Okla. Stat. tit. 36, § 36-311A.8
This is the official text of Okla. Stat. tit. 36, § 36-311A.8, part of Oklahoma’s Stat. tit. 36, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 36,." Browse the sections below, each linked to its official government source.
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Audited consolidated or combined financial statements
Official statutory text
Oklahoma Statutes - Title 36. Insurance Page 87
An insurer may make written application to the Insurance
Commissioner for approval to file audited consolidated or combined
financial statements in lieu of separate annual audited financial
statements if the insurer is part of a group of insurance companies
that utilizes a pooling or one hundred percent (100%) reinsurance
agreement that affects the solvency and integrity of the reserves of
the insurer and the insurer cedes all of its direct and assumed
business to the pool. In such cases, a columnar consolidating or
combining worksheet shall be filed with the report, as follows:
1. Amounts shown on the consolidated or combined audited
financial report shall be shown on the worksheet;
2. Amounts for each insurer subject to this section shall be
stated separately;
3. Noninsurance operations may be shown on the worksheet on a
combined or individual basis;
4. Explanations of consolidating and eliminating entries shall
be included; and
5. A reconciliation shall be included of any differences
between the amounts shown in the individual insurer columns of the
worksheet and comparable amounts shown on the annual statements of
the insurers.
An insurer may make written application to the Insurance
Commissioner for approval to file audited consolidated or combined
financial statements in lieu of separate annual audited financial
statements if the insurer is part of a group of insurance companies
that utilizes a pooling or one hundred percent (100%) reinsurance
agreement that affects the solvency and integrity of the reserves of
the insurer and the insurer cedes all of its direct and assumed
business to the pool. In such cases, a columnar consolidating or
combining worksheet shall be filed with the report, as follows:
1. Amounts shown on the consolidated or combined audited
financial report shall be shown on the worksheet;
2. Amounts for each insurer subject to this section shall be
stated separately;
3. Noninsurance operations may be shown on the worksheet on a
combined or individual basis;
4. Explanations of consolidating and eliminating entries shall
be included; and
5. A reconciliation shall be included of any differences
between the amounts shown in the individual insurer columns of the
worksheet and comparable amounts shown on the annual statements of
the insurers.
Status: in_force · Read it on the official government site
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