50 Ill. Adm. Code 1104.50
Credit for Reinsurance Required by Law
Section 1104
Section 1104.50 Credit for
Reinsurance Required by Law
The Director shall allow credit
for reinsurance ceded by a domestic insurer
to an assuming insurer not
meeting the requirements of Section 173.1(1)(A), (B), (B-5), (C), (C-5) or
(C-10)
of the Code
but only with respect to the insurance of risks
located in jurisdictions where that reinsurance is required by applicable law
or regulation of that jurisdiction
. (Section 173.1(1)(D) of the Code)