Arizona Revised Statutes Title 20. Insurance § 20-1557. Reinsurance

A. If a mortgage guaranty insurance company obtains reinsurance from an insurance company that is properly licensed to provide such reinsurance or from an appropriate governmental agency, the mortgage guaranty insurer and the reinsurer shall establish and maintain the reserves required in this article in appropriate proportions in relation to the risk retained by the original insurer and ceded to the assuming reinsurer so that the total reserves established shall not be less than the reserves required by this article.

B.Section 20-261, subsection D does not apply to a mortgage guaranty insurer.

C. Notwithstanding § 20-261, subsection A, a domestic mortgage guaranty insurer may reinsure its risks with a solvent insurer that has surplus to policyholders less than the minimum capital stock prescribed in § 20-1542 if the reinsurance agreement is approved by the director or the agreement both:

D. A mortgage guaranty insurer shall file a report with the director that includes all information regarding its reinsurance agreements as required by the director. The mortgage guaranty insurer shall file the report prescribed in this subsection with its annual and quarterly financial statements.

E. Except as provided in subsection B of this section, this section does not alter or diminish a domestic mortgage guaranty insurer's obligation to report to the director, file documents with the director or obtain the director's approval as prescribed in this title.

F. Notwithstanding title 39, chapter 1, the information submitted pursuant to subsection D of this section is confidential and proprietary and the director shall not make the information available for public inspection without the written consent of the domestic mortgage guaranty insurer, except that: