Section 1104.20  Credit for Reinsurance – Reinsurer Licensed in this State

Pursuant to Section 173.1(1)(A) of the Illinois Insurance Code [215 ILCS 5/173.1(1)(A)], the Director shall allow credit for reinsurance ceded by a domestic insurer to assuming insurers which were licensed in this State as of the date of the ceding insurer's most recent statutory financial statement.