§ 26-3-105 — Qualification of new foreign insurers

Wyoming § 26-3-105

• Jurisdiction: Wyoming
• Title 26: Insurance Code
• Ch. 3: AUTHORIZATION OF INSURERS AND

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(a) No foreign insurer is authorized to transact insurance
in Wyoming if that insurer has not been issuing its own policies
as an authorized insurer for at least two (2) years, unless the
insurer is otherwise qualified for a certificate of authority
under this code and is:
(i) The wholly owned subsidiary or affiliate of an
insurer which is already an authorized insurer in Wyoming and
the subsidiary or affiliate shares common management and
business operations with the insurer;
(ii) The successor in interest through statutory
merger or statutory consolidation, or through bulk reinsurance
of substantially all of the insurance risks in this state, of an
authorized insurer; or
(iii) An insurer seeking authority to write a line of
insurance for which, in the commissioner's opinion:
(A) Adequate provision is not made by insurers
already authorized in this state; or
(B) Adequate competition between insurers does
not exist in this state.
(b) No foreign insurer shall continue to hold a
certificate of authority under W.S. 26-3-114 if the insurer has
reinsured substantially all of its insurance risks either prior
to, contemporaneously with or after being acquired by another
insurer not holding a subsisting certificate of authority in
this state.