Description: 1994 SOA Spring Meeting, San Francisco. This session focused on different uses of reinsurance. Topics included: • Cost of capital versus debt, in the form of surplus notes. • Reinsurance and the joint venture. • Structuring reinsurance for the audience of the 1990s, including rating agencies and regulators.

Description: This presentation is a panel discussion, session number 3PD, from the 2002 Valuation Actuary Symposium, held September 19-20 in Lake Buena Vista, FL. The panelists, including an attorney, a rating agency representative, and a state examiner, discuss regulatory and accounting issues relating to reinsurance, focusing on statutory accounting. They discuss risk transfer and other requirements, which if not met can cause the loss of reinsurance credit, how rating agencies evaluate the quality of reinsurance, what state examiners look for when reviewing reserve credits, how to perform due diligence on reinsurers, how to structure transactions to provide maximum security, and special issues associated with international reinsurance.