CID: Financial Regulation Unit

Financial Regulation Unit

Kathryn Belfi, CPA - Director

The Financial Regulation Division monitors the financial condition of domestic and foreign insurers, health care centers and fraternal benefit societies authorized to do business in Connecticut. Financial statements and other information required to be filed by statute are analyzed, and on-site financial examinations are conducted to ensure that the entities remain solvent and capable of meeting their contractual obligations to policyholders and claimants. The Division reviews and approves the formation and licensure of new Connecticut domestic insurers and applications submitted by foreign insurers seeking a Certificate of Authority to write business in the state. Applications of surplus lines insurers, approved reinsurers, and risk retention groups are also reviewed. In addition, the Division is responsible for holding company registration statements, domestic company transactions, mergers, acquisitions, and redomestications.

Actuarial staff for both life and property casualty are assigned within the Division. The actuarial staff participates in both the analysis of financial statements and the on-site financial examinations.

The Connecticut Insurance Department is accredited by the National Association of Insurance Commissioners.


Resources:

Insurance Industry Information

How To Apply For or Amend a Certificate of Authority

Filing and Financial Requirements


Form A Archive:

Nassau Reinsurance Acquisition of the Phoenix Companies. Final Order and Decision May 4, 2016

Penn Mutual Acquisition of Vantis Life Insurance Company. Final Order and Decision December 21, 2016



Content Last Modified on 1/9/2017 10:40:03 AM