Okla. Stat. tit. 36, § 36-1639

insurance group.

A. The Commissioner is authorized to act as the group-wide

supervisor for any internationally active insurance group in

accordance with the provisions of this section. However, the

Commissioner may otherwise acknowledge another regulatory official

as the group-wide supervisor where the internationally active

insurance group:

1. Does not have substantial insurance operations in the United

States;

2. Has substantial insurance operations in the United States,

but not in this state; or

3. Has substantial insurance operations in the United States

and this state, but the Commissioner has determined pursuant to the

factors set forth in subsections B and F of this section that the

other regulatory official is the appropriate group-wide supervisor.

An insurance holding company system that does not otherwise qualify

as an internationally active insurance group may request that the

Commissioner make a determination or acknowledgment as to a group-

wide supervisor pursuant to this section.

B. In cooperation with other state, federal and international

regulatory agencies, the Commissioner will identify a single group-

wide supervisor for an internationally active insurance group. The

Commissioner may determine that the Commissioner is the appropriate

group-wide supervisor for an internationally active insurance group

that conducts substantial insurance operations concentrated in this

state. However, the Commissioner may acknowledge that a regulatory

official from another jurisdiction is the appropriate group-wide

supervisor for the internationally active insurance group. The

Commissioner shall consider the following factors when making a

determination or acknowledgment under this subsection:

1. 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;

Oklahoma Statutes - Title 36. Insurance Page 481

2. The place of domicile of the top-tiered insurer or insurers

in the insurance holding company system of the internationally

active insurance group;

3. The location of the executive offices or largest operational

offices of the internationally active insurance group;

4. Whether another regulatory official is acting or is seeking

to act as the group-wide supervisor under a regulatory system that

the Commissioner determines to be:

a. substantially similar to the system of regulation

provided under the laws of this state, or

b. otherwise sufficient in terms of providing for group-

wide supervision, enterprise risk analysis, and

cooperation with other regulatory officials; and

5. Whether another regulatory official acting or seeking to act

as the group-wide supervisor provides the Commissioner with

reasonably reciprocal recognition and cooperation. However, a

Commissioner identified under this section as the group-wide

supervisor may determine that it is appropriate to acknowledge

another supervisor to serve as the group-wide supervisor. The

acknowledgment of the group-wide supervisor shall be made after

consideration of the factors listed in this paragraph and paragraphs

1 through 4 of this subsection, and shall be made in cooperation

with and subject to the acknowledgment of other regulatory officials

involved with supervision of members of the internationally active

insurance group, and in consultation with the internationally active

insurance group.

C. Notwithstanding any other provision of law, when another

regulatory official is acting as the group-wide supervisor of an

internationally active insurance group, the Commissioner shall

acknowledge that regulatory official as the group-wide supervisor.

However, in the event of a material change in the internationally

active insurance group that results in:

1. The internationally active insurance group's insurers

domiciled in this state holding the largest share of the group's
g as the group-wide supervisor of an

internationally active insurance group, the Commissioner shall

acknowledge that regulatory official as the group-wide supervisor.

However, in the event of a material change in the internationally

active insurance group that results in:

1. The internationally active insurance group's insurers

domiciled in this state holding the largest share of the group's

premiums, assets or liabilities; or

2. This state being the place of domicile of the top-tiered

insurer or insurers in the insurance holding company system of the

internationally active insurance group,

the Commissioner shall make a determination or acknowledgment as to

the appropriate group-wide supervisor for such an internationally

active insurance group pursuant to subsection B of this section.

D. Pursuant to Section 7 of this act, the Commissioner is

authorized to collect from any insurer registered pursuant to

Section 5 of this act all information necessary to determine whether

the Commissioner may act as the group-wide supervisor of an

internationally active insurance group or if the Commissioner may

acknowledge another regulatory official to act as the group-wide

Oklahoma Statutes - Title 36. Insurance Page 482

supervisor. Prior to issuing a determination that an

internationally active insurance group is subject to group-wide

supervision by the Commissioner, the Commissioner shall notify the

insurer registered pursuant to Section 5 and the ultimate

controlling person within the internationally active insurance

group. The internationally active insurance group shall have not

less than thirty (30) days to provide the Commissioner with

additional information pertinent to the pending determination. The

Commissioner shall publish on its Internet website the identity of

internationally active insurance groups that the Commissioner has

determined are subject to group-wide supervision by the

Commissioner.

E. If the Commissioner is the group-wide supervisor for an

internationally active insurance group, the Commissioner is

authorized to engage in any of the following group-wide supervision

activities:

1. Assess the enterprise risks within the internationally

active insurance group to ensure that:

a. the material financial condition and liquidity risks

to the members of the internationally active insurance

group that are engaged in the business of insurance

are identified by management, and

b. reasonable and effective mitigation measures are in

place;

2. Request, from any member of an internationally active

insurance group subject to the Commissioner's supervision,

information necessary and appropriate to assess enterprise risk,

including, but not limited to, information about the members of the

internationally active insurance group regarding:

a. governance, risk assessment and management,

b. capital adequacy, and

c. material intercompany transactions;

3. Coordinate and, through the authority of the regulatory

officials of the jurisdictions where 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 such internationally

active insurance group that are engaged in the business of

insurance;

4. Communicate with other state, federal and international

regulatory agencies for members within the internationally active

insurance group and share relevant information subject to the

confidentiality provisions of Section 10 of this act, through

supervisory colleges as set forth in Section 8 of this act or

otherwise;

Oklahoma Statutes - Title 36. Insurance Page 483

5. Enter into agreements with or obtain documentation from any

insurer registered under Section 5 of this act, any member of the

internationally active insurance group, and any other state, federal
ject to the

confidentiality provisions of Section 10 of this act, through

supervisory colleges as set forth in Section 8 of this act or

otherwise;

Oklahoma Statutes - Title 36. Insurance Page 483

5. Enter into agreements with or obtain documentation from any

insurer registered under Section 5 of this act, any member of the

internationally active insurance group, and any other state, federal

and international regulatory agencies for members of the

internationally active insurance group, providing the basis for or

otherwise clarifying the Commissioner's role as group-wide

supervisor, including provisions for resolving disputes with other

regulatory officials. Such agreements or documentation shall not

serve as evidence in any proceeding 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; and

6. Other group-wide supervision activities, consistent with the

authorities and purposes enumerated above, as considered necessary

by the Commissioner.

F. If the Commissioner acknowledges that another regulatory

official from a jurisdiction that is not accredited by the National

Association of Insurance Commissioners is the group-wide supervisor,

the Commissioner is authorized to reasonably cooperate, through

supervisory colleges or otherwise, with group-wide supervision

undertaken by the group-wide supervisor, provided that:

1. The Commissioner's cooperation is in compliance with the

laws of this state; and

2. The regulatory official acknowledged as the group-wide

supervisor also recognizes and cooperates with the Commissioner's

activities as a group-wide supervisor for other internationally

active insurance groups where applicable. Where such recognition

and cooperation is not reasonably reciprocal, the Commissioner is

authorized to refuse recognition and cooperation.

G. The Commissioner is authorized to enter into agreements with

or obtain documentation from any insurer registered under Section 5

of this act, any affiliate of the insurer, and other state, federal

and international regulatory agencies for members of the

internationally active insurance group, that provide the basis for

or otherwise clarify a regulatory official's role as group-wide

supervisor.

H. The Commissioner may promulgate regulations necessary for

the administration of this section.

I. A registered insurer subject to this section shall be liable

for and shall pay the reasonable expenses of the Commissioner's

participation in the administration of this section, including the

engagement of attorneys, actuaries and any other professionals and

all reasonable travel expenses.