Pennsylvania Statutes Title 40 P.S. Insurance § 995.3. Reinsurance; notice; insurance company law

Any domestic insurance company, association or exchange except a domestic life insurance company, which, during any period of twelve consecutive months, by any contract or contracts of reinsurance, cedes an amount of its insurance on which the total gross reinsurance premiums are more than fifty percent of the unearned premiums on the net amount of its insurance in force at the beginning of such period, shall give written notification thereof to the insurance commissioner. Any domestic life insurance company which reinsures its whole risk on any individual life or joint lives or reinsures policies which, during any period of twelve consecutive months, in the aggregate, amount to more than fifty percent of its insurance in force shall give written notification thereof to the Insurance Commissioner. The notification required hereunder shall be given at least ten business days before the date such reinsurance takes effect, and shall specify the nature and amount thereof, and identify the parties thereto. The requirements of this section shall not apply to reinsurance made in the ordinary course of business covering reinsurance of specified individual risks under agreements relating to current business and shall be in addition to the requirements contained in section 319 of the act of May 17, 1921 (P.L. 682),  1 known as “The Insurance Company Law of 1921.”