(a) Any captive insurer may cede reinsurance to any insurer or reinsurer or reinsurance pool approved by the SAM for this purpose, and may provide reinsurance on risks ceded by any other insurer or reinsurer or reinsurance pool.
(b) Any captive insurer shall receive credit for reserves on risks or portions of risks ceded to approved reinsurers.
(c) Any captive insurer may take credit for reserves on risks or portions of risks ceded to a pool, exchange, or association acting as a reinsurer. The SAM may require any such documents, financial information or other evidence that such pool, exchange, or association will be able to provide adequate security for its financial obligations.