New Jersey Statutes Title 17. Corporations and Institutions for Finance and Insurance 17 § 47B-10

a. A captive insurance company may provide reinsurance on risks ceded by any other insurer.

b. A captive insurance company may take credit for the reinsurance of risks or portions of risks ceded to reinsurers complying with the provisions of P.L.1993, c. 243 (C.17:51B-1 et seq.). A captive insurance company shall not take credit for the reinsurance of risks or portions of risks ceded to reinsurers not complying with P.L.1993, c. 243 (C.17:51B-1 et seq.).

c. For purposes of this act,  1 insurance by a captive insurance company of any workers’ compensation qualified self-insured plan of its parent and affiliates shall be deemed to be reinsurance.