The following information must be disclosed on a nonconsolidated basis in any report of a material nonrenewal, cancellation, or revision of a ceded reinsurance agreement:
- (1) The effective date of the nonrenewal, cancellation, or revision.
- (2) The description of the transaction with an identification of the initiator of the transaction.
- (3) The purpose of or reason for the transaction.
- (4) If applicable, the identity of the replacement reinsurers.
As added by P.L.251-1995, SEC.17.