Ohio § 3901.352

§ 3901.352.

(A)(1) The superintendent of insurance is authorized to act as the group-wide supervisor

for any internationally active insurance group in accordance with this section.  However, the superintendent may otherwise acknowledge a regulatory official from

another jurisdiction as the group-wide supervisor for an internationally active insurance

group, if the group meets any of the following conditions: (a) Does not have substantial insurance operations in the United States; (b) Has substantial operations in the United States, but not in this state; (c) Has substantial insurance operations in the United States and this state, but the

superintendent has determined pursuant to the factors set forth in divisions (B) and

(F) of this section that the other regulatory official is the appropriate group-wide

supervisor. (2) An insurance holding company system that does not otherwise qualify as an internationally

active insurance group may request that the superintendent make a determination or

acknowledgment as to a group-wide supervisor for the insurance holding company system

pursuant to this section. (B)(1) In cooperation with other state, federal, and international regulatory agencies,

the superintendent shall identify one group-wide supervisor for each internationally

active insurance group.  The superintendent may determine that the superintendent is the appropriate group-wide

supervisor for an internationally active insurance group that conducts substantial

insurance operations concentrated in this state.  However, the superintendent may acknowledge that a regulatory official from another

jurisdiction is the appropriate group-wide supervisor for the internationally active

insurance group.  The superintendent shall consider the following factors when making a determination

or acknowledgment under division (B)(1) of this section: (a) The place of domicile of the insurers within the internationally active insurance

group that hold the largest share of the group's written premiums, assets, or liabilities; (b) The place of domicile of the top-tiered insurer in the internationally active insurance

group's insurance holding company system; (c) The location of the executive offices or largest operational offices of the internationally

active insurance group; (d) For the purposes of division (C)(1) of this section, whether another regulatory official

is acting or is seeking to act as the group-wide supervisor for the internationally

active insurance group under a regulatory system that the superintendent determines

to be either of the following: (i) Substantially similar to the regulatory system under the laws of this state; (ii) Otherwise sufficient in terms of providing for group-wide supervision, enterprise

risk analysis, and cooperation with other regulatory officials. (e) Whether another regulatory official acting, or seeking to act, as the group-wide

supervisor for the internationally active insurance group provides the superintendent

with reasonably reciprocal recognition and cooperation. (2) If the superintendent is identified in division (B)(1) of this section as the group-wide

supervisor of an internationally active insurance group, the superintendent may determine

that it is appropriate to acknowledge another supervisor to serve as the group-wide

supervisor.  The acknowledgment of the new group-wide supervisor shall be made in accordance

with all of the following: (a) After consideration of the factors listed in division (B)(1) of this section; (b) In cooperation with and subject to the acknowledgment of other regulatory officials

involved with supervision of members of the internationally active insurance group; (c) In consultation with the internationally active insurance group. (C)(1) Notwithstanding any other provision of law, when another regulatory official is acting

as the group-wide supervisor of an internationally active insurance group, the superintendent

shall acknowledge that regulatory official as the group-wide supervisor. (2) The superintendent shall make a determination or acknowledgment under division (B)

of this section as to the appropriate group-wide supervisor for an internationally

active insurance group if a material change in the internationally active insurance

group results in either of the following: (a) The internationally active insurance group's insurers domiciled in this state holding

the largest share of the group's premiums, assets, or liabilities; (b) This state being the place of domicile of the top-tiered insurer in the internationally

active insurance group's insurance holding company system. (D)(1) Pursuant to section 3901.35 of the Revised Code , the superintendent may collect from any insurer registered under section 3901.33 of the Revised Code all information necessary to determine whether the superintendent may act as the

group-wide supervisor of an internationally active insurance group or if the superintendent

may acknowledge another regulatory official to act as the group-wide supervisor. (2) Prior to issuing a determination that an internationally active insurance group is

subject to group-wide supervision by the superintendent, the superintendent shall

notify the insurer registered under section 3901.33 of the Revised Code and the ultimate controlling person within the internationally active insurance group.  The superintendent shall give the internationally active insurance group not less

than thirty days to provide the superintendent with additional information pertinent

to the pending determination. (3) The superintendent shall publish on its internet web site the identity of internationally

active insurance groups that the superintendent has determined are subject to group-wide

supervision by the superintendent. (E) If the superintendent is the group-wide supervisor for an internationally active

insurance group, the superintendent may engage in any of the following activities: (1) Assess the enterprise risks within the internationally active insurance group to

ensure all of the following: (a) That the material financial condition and liquidity risks to members of the internationally

active insurance group that are engaged in the business of insurance are identified

by management; (b) That reasonable and effective mitigation measures are in place. (2) Request from any member of an internationally active insurance group subject to the

superintendent's supervision information necessary and appropriate to assess enterprise

risk, including information about the members of the internationally active insurance

group regarding all of the following: (a) Governance, risk assessment, and management; (b) Capital adequacy; (c) Material intercompany transactions. (3) Coordinate and, through the authority of the regulatory officials of the jurisdictions

in which members of the internationally active insurance group are domiciled, compel

development and implementation of reasonable measures designed to ensure that the

internationally active insurance group is able to timely recognize and mitigate enterprise

risks to members of the internationally active insurance group that are engaged in

the business of insurance; (4) Communicate with other state, federal, and international regulatory agencies for

members of the internationally active insurance group and share relevant information,

subject to the confidentiality provisions of section 3901.36 of the Revised Code , through a supervisory college as set forth in section 3901.351 of the Revised Code or otherwise; (5) Enter into agreements with or obtain documentation from any insurer registered under section 3901.33 of the Revised Code , any member of the internationally active insurance group, and any other state, federal,

and international regulatory agency for members of the internationally active insurance

group, that provides the basis for or otherwise clarifies the superintendent's role

as group-wide supervisor.  The agreements or documentation may include provisions for resolving disputes with

other regulatory officials.  The agreements or documentation shall not serve as evidence in any proceeding to

show that any insurer or person within an insurance holding company system not domiciled

or incorporated in this state is doing business in this state or is otherwise subject

to jurisdiction in this state. (6) Any other group-wide supervision activities consistent with this section that the

superintendent considers necessary. (F) If the superintendent acknowledges that another regulatory official from a jurisdiction

that is not accredited by the national association of insurance commissioners is the

group-wide supervisor of an internationally active insurance group, the superintendent

may reasonably cooperate, through a supervisory college as set forth in section 3901.351 of the Revised Code or otherwise, with group-wide supervision undertaken by the group-wide supervisor

if all of the following are true: (1) The superintendent's cooperation is in compliance with the Revised Code. (2) The regulatory official also recognizes and cooperates with the superintendent's

activities as a group-wide supervisor for other internationally active insurance groups,

as applicable.  If such recognition and cooperation is not reasonably reciprocal, the superintendent

may refuse to recognize and cooperate with the regulatory official as group-wide supervisor. (G) The superintendent may enter into agreements with or obtain documentation from any

insurer registered under section 3901.33 of the Revised Code , any affiliate of the insurer, and other state, federal, and international regulatory

agencies for members of the internationally active insurance group that provides the

basis for or otherwise clarifies a regulatory official's role as group-wide supervisor

of an internationally active insurance group. (H) An insurer registered under section 3901.33 of the Revised Code shall be liable for and shall pay the reasonable expenses of the superintendent's

participation in the administration of this section, including engaging attorneys,

actuaries, and any other professionals and all reasonable travel expenses. (I) The superintendent may adopt rules in accordance with Chapter 119. of the Revised

Code as necessary to implement this section.