Completion of a BE-45 survey is required of any U.S. insurance company that has engaged in reinsurance transactions with foreign persons, that has earned premiums from, or incurred losses to, foreign persons in the capacity of primary insurer, or that has engaged in international sales or purchases of services auxiliary to insurance. Filing is mandatory if your combined transactions in the covered insurance services (listed below) with foreign persons exceeded $8 million (based on absolute value) for the previous calendar year, or can expected to be in the current calendar year, on an accrual basis:
- premiums earned on reinsurance assumed,
- premiums incurred on reinsurance ceded
- losses incurred on reinsurance assumed,
- losses recovered on reinsurance ceded,
- premiums earned on primary insurance sold,
- losses incurred on primary insurance sold,
- sales of auxiliary insurance services, and
- purchases of auxiliary insurance services.
Published