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Ariel and DaVinci Join Ranks of Approved Reinsurers in Florida

The Florida Office of Insurance Regulation has authorized two more reinsurers under the reduced collateral rule.

By staff Writer | Updated on June 15, 2011

The Florida Office of Insurance Regulation has signed two consent orders that allow Ariel Reinsurance Co. Ltd. and DaVinci Reinsurance Ltd. to post reduced collateral and operate in Florida as eligible reinsurers. The Consent Order with Ariel and the Consent Order with DaVinci make these companies the fifteenth and sixteenth reinsurers respectively to operate in Florida with similar terms.

Florida is the first state to allow ceding insurance companies to receive full credit on their financial statements for reinsurance purchased from non-U.S. based reinsurers that are highly rated and financially sound. 

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