Reinsurance of Policy

Sec. 884.301. REINSURANCE OF POLICY. (a) A stipulated premium company may reinsure on an individual indemnity policy basis any risk or part of a risk that the company underwrites or assumes. (b) The reinsurer must be a legal reserve company that: (1) is authorized to write life, health, and accident insurance in this state; and (2) has capital and surplus in an amount of at least $200,000. (c) After reinsuring under Subsection (a), a stipulated premium company may take a credit for the reinsurance against the aggregate reserves required by Subchapter J. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.