Financial Reporting Requirements for ALL ELIGIBLE SURPLUS LINES INSURERS

STATE OF CONNECTICUT INSURANCE DEPARTMENT www.ct.gov/cid P.O. Box 816 Hartford, CT 06142-0816 Affirmative Action/Equal Employment Opportunity Employer December 17, 2024 Bulletin Number FS-4SL-24 TO: FOREIGN ELIGIBLE SURPLUS LINES INSURERS RE: 2025 ELECTRONIC FINANCIAL STATEMENT FILING REQUIREMENTS This Bulletin has been prepared with requirements for filings in the ordinary course of business. Exception may apply for certain companies. Section 38a-740-6(b)(1) of the Regulations of Connecticut State Agencies requires that each foreign eligible surplus lines insurer shall annually on or before the first day of March submit to the Commissioner by electronically filing with the National Association of Insurance Commissioners (NAIC), a true and complete report, signed and sworn to by its president or a vice- president, and secretary or an assistant secretary, of its financial condition on the thirty-first day of December next preceding. The financial report shall be in such form and with such detail as is prescribed by the Commissioner. An electronically filed report that is timely submitted to the NAIC is deemed to have been submitted to the Commissioner in accordance with this subdivision. As provided in Conn. Agencies Regs. §38a-740-6(b)(3), foreign eligible surplus lines insurers will be required to report their financial condition on a quarterly basis to the Department in 2025, in the same manner as noted above. These reports shall include a breakdown of the company’s Connecticut business showing premiums and losses by line (same format as page 19 of the Annual Statement but with current year-to-date amounts). Quarterly filings shall be made as follows: Quarter Ending Due Date March 31, 2025 May 15, 2025 June 30, 2025 August 15, 2025 September 30, 2025 November 15, 2025 Pursuant to Conn. Gen. Stat. § 38a-745, each insurance policy issued on or after January 1, 2015, pursuant to Conn. Gen. Stat. §§ 38a-741 to 38a-744, inclusive, and Conn. Gen atement but with current year-to-date amounts). Quarterly filings shall be made as follows: Quarter Ending Due Date March 31, 2025 May 15, 2025 June 30, 2025 August 15, 2025 September 30, 2025 November 15, 2025 Pursuant to Conn. Gen. Stat. § 38a-745, each insurance policy issued on or after January 1, 2015, pursuant to Conn. Gen. Stat. §§ 38a-741 to 38a-744, inclusive, and Conn. Gen. Stat. § 38a-794 by a surplus lines insurer shall bear on its cover, in not less than twelve-point boldface type in capital letters, the following: NOTICE THIS IS A SURPLUS LINES POLICY AND IS NOT PROTECTED BY THE CONNECTICUT INSURANCE GUARANTY ASSOCIATION OR SUBJECT TO REVIEW BY THE CONNECTICUT INSURANCE DEPARTMENT. IT IS IMPORTANT THAT YOU READ AND UNDERSTAND THIS POLICY. Filings that are not submitted electronically to the NAIC should be submitted via email to cid.financial@ct.gov. 2 Please contact the Insurance Department Financial Regulation Division at cid.financial@ct.gov with any questions pertaining to this Bulletin. __________________________ Andrew N. Mais Insurance Commissioner