Defintion of Certified Reinsurer
One of the bullet points in the wiki for definition of Certified reinsurer is "one that would have been categorized as unauthorzied prior to 2012" so a reinsurer that was unauthorized is now certified? I don't understand why there would be any benefit to being certified then. Is the bullet point actually supposed to be "authorized" not "unauthorized"?
Comments
Certification embetters an unauthorized reinsurer's standing, so that the cedent needs to put up less reinsurance provision for it than for an unauthorized reinsurer, but still more than that for an authorized insurer. Since there was no "certificaion" prior to 2012, a certified reinsurer today would have been an unauthorized reinsurer back then.