Section 493.103 - Accredited Reinsurer For purposes of Section 493.102(a)(2), an insurer is accredited as a reinsurer in this state if the insurer:
(1) submits to this state's jurisdiction;(2) submits to this state's authority to examine the insurer's books and records;(3) is domiciled and authorized to engage in the business of insurance or reinsurance in at least one state or, if the insurer is a United States branch of an alien assuming insurer, is entered through and authorized to engage in the business of insurance or reinsurance in at least one state;(4) annually files with the department a copy of the annual statement the insurer files with the insurance department of the insurer's state of domicile; and(5) maintains a surplus as regards policyholders in an amount of at least $20 million.Added by Acts 2005, 79th Leg., Ch. 727, Sec. 1, eff. 4/1/2007.