Accredited Reinsurers

Credit for Reinsurance is regulated pursuant to New Mexico NMSA 1978 Article 12E and NMAC 13.2.8.9

All forms regarding Credit for Reinsurance include Forms:

• AR-1
• CR-1
• CR-F Part 1
• CR-F Part 2
• CR-S Part 1 – Section 1
• CR-S Part 1 – Section 2
• CR-S Part 2
• CR-S Part 3 – Section 1
• CR-S Part 3 – Section 2
• RJ-1
• RJ-1 Uniform Application Checklist for Reciprocal Jurisdictions

Disclosure: This guidance is not all-inclusive. Please review New Mexico Code, NMSA 1978 Chapter 59A and NMAC Title 13

Accredited and Trusteed Reinsurers

Reinsurers Applying for Accredited or Trusteed status, Instructions:

1. Properly execute and file Form AR-1 (linked above)
2. And file: a current Certificate of Compliance certified by the public insurance supervisory official of the company’s state of domicile.
3. A current Annual Statement certified by the public insurance supervisory official of the company’s state of domicile, or sworn to by at least two executive officers of the Company, with a certified Actuary’s Opinion, and a copy of the Management Discussion and Analysis.
4. A copy of the company’s most recent Report of Examination made by a state regulatory body certified by the public insurance supervisory official of the company’s state of domicile. This Report must not be more than three (3) years old.
5. A copy of the company’s most recent audited financial statements including the accountant’s letter of qualification and the accountant’s report on internal controls.
6. Appointment and authority of United States Manager certified by officer having custody of records, if an alien company.

Certified Reinsurers

Reinsurers may apply to become a certified reinsurer in New Mexico pursuant to New Mexico NMSA 1978 Article 12E and NMAC 13.2.8.9. Under these guidelines, credit for reinsurance shall apply only to reinsurance contracts entered into or renewed on or after the effective date of the certification of the assuming insurer.

---

Certification Procedure

Statute details the certification procedure for assuming insurers. The New Mexico Superintendent of Insurance utilizes the Uniform Application Checklist for Certified Reinsurers that is located on the NAIC’s website for this purpose. The link to this document is provided below.

Forms CR-1, CR-F and CR-S

Pursuant to the certification procedures, an assuming reinsurer must submit a properly executed Form CR-1 (Certificate of Certified Reinsurer). Annually, certified reinsurers shall complete and submit Form CR-F (for property/casualty reinsurers) or Form CR-S (for life and health reinsurers). The previously mentioned CR-type forms are linked above. Instructions for these forms are located on the NAIC’s website.

---

Pending Applications

Pursuant to the certification procedures, the Director shall post notice on the New Mexico Office of Superintendent of Insurance’s website promptly upon receipt of any application for certification, including instructions on how members of the public may respond to the application. Any members of the public who wish to respond to an application noted below shall submit written comments to the attention of:

Don Gilbert, Chief Financial Analyst
examinations.osi@osi.nm.gov

Responses shall be received by the due date noted below. Please include specific details regarding any objections to an application.

The director may not take final action on the application until at least thirty (30) days after posting the required notice.

Certified Reinsurer Name	Date Application Received	Date Responses Due
–
–

Qualified Jurisdictions

Pursuant to statute, the Director shall create and publish a list of qualified jurisdictions, with regard to certified reinsurers. The list below is based on the NAIC list of qualified jurisdictions.

Qualified Jurisdiction	(Re-Approved) Effective Date
Bermuda	1/1/2024
France	1/1/2024
Germany	1/1/2024
Ireland	1/1/2024
Japan	1/1/2024
Switzerland	1/1/2024
United Kingdom	1/1/2024

Note: In addition to the list above, any U.S. jurisdictions that meet the requirement for accreditation under the NAIC financial standards and accreditation program are recognized as qualified jurisdictions pursuant to statute.

Reciprocal Jurisdictions