Utah Code Title 31A. Insurance Code § 31A-20-107. Reinsurance

(1)(a) An authorized insurer writing a nonassessable policy may assume as a reinsurer a risk it may write directly.

(b) Subject to Chapter 5, Domestic Stock and Mutual Insurance Corporations, Chapter 6a, Service Contracts, Chapter 6b, Guaranteed Asset Protection Waiver Act, Chapter 7, Nonprofit Health Service Insurance Corporations, Chapter 8, Health Maintenance Organizations and Limited Health Plans, Chapter 8a, Health Discount Program Consumer Protection Act, Chapter 9, Insurance Fraternals, Chapter 10, Annuities, Chapter 11, Motor Clubs, Chapter 12, State Risk Management Fund, Chapter 14, Foreign Insurers, and Chapter 17, Determination of Financial Condition, and to any limitation imposed on a foreign insurer by the law of its domicile, the commissioner may also authorize an insurer to assume, as a reinsurer, one or more designated classes of risks it is not authorized to write directly.

(2)(a) Subject to Section 31A-5-508, an authorized insurer may cede or retrocede to:

(b) An authorized insurer may cede or retrocede reinsurance to an unauthorized insurer subject to:

(4)(a) An authorized reinsurer who knowingly assumes from an unauthorized insurer, a risk that may lawfully be written only by an authorized insurer, shall immediately report the facts of the transaction to the commissioner.

(5)(a) Except as provided under Subsection (5)(b), an authorized reinsurer proposing to withdraw from writing a class of its business in Utah, except by nonrenewal of an existing contract at its expiration, shall give the commissioner 60 days written notice of its intention.  The authorized reinsurer may not withdraw until after those 60 days lapse.

(b) This Subsection (5) does not apply if the withdrawing reinsurer writes an insignificant market share of that class of business in Utah.  The commissioner shall define “insignificant market share” by rule.