# Alaska Stat. § 21.12.025: Assumption reinsurance

> Alaska · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.12_S21.12.025

## Section

- **Citation:** Alaska Stat. § 21.12.025
- **Heading:** Assumption reinsurance
- **Jurisdiction:** Alaska
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** AK Code / Title 21 / Chapter 21.12 / Section 21.12.025

## Text

(a) A nondomestic admitted insurer may not carry out an agreement of assumption reinsurance with a nonadmitted insurer that would transfer Alaska policyholders unless (1) the nonadmitted insurer applies for and obtains a certificate of authority from the director; or

(2) the admitted insurer files the assumption agreement with the director and obtains approval to apply the assumption agreement to Alaska policies or certificates.

(b) The director shall approve an assumption agreement involving the assumption of Alaska insurance business by a nonadmitted insurer if (1) the ceding insurer is in supervision, conservation, or liquidation and the assuming insurer is in good standing in its state of domicile; or

(2) approval would be in the public interest of the Alaska policyholders.

## Nearby sections

- [Alaska Stat. § 21.12.010 Limit of risk.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.12_S21.12.010.md)
- [Alaska Stat. § 21.12.020 Reinsurance credit allowed a domestic ceding insurer.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.12_S21.12.020.md)
- [Alaska Stat. § 21.12.025 Assumption reinsurance.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.12_S21.12.025.md)
- [Alaska Stat. § 21.12.030 Definitions not mutually exclusive.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.12_S21.12.030.md)
- [Alaska Stat. § 21.12.040 Life insurance defined.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.12_S21.12.040.md)
- [Alaska Stat. § 21.12.050 Health and health care insurance defined.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.12_S21.12.050.md)
- [Alaska Stat. § 21.12.052 Disability insurance defined.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.12_S21.12.052.md)
- [Alaska Stat. § 21.12.055 Annuities and annuity contract defined.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.12_S21.12.055.md)
- [Alaska Stat. § 21.12.060 Property insurance defined.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.12_S21.12.060.md)
- [Alaska Stat. § 21.12.070 Casualty insurance defined.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.12_S21.12.070.md)
- [Alaska Stat. § 21.12.080 Surety insurance defined.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.12_S21.12.080.md)
- [Alaska Stat. § 21.12.090 Marine, wet marine, and transportation insurance defined.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.12_S21.12.090.md)
- [Alaska Stat. § 21.12.110 Mortgage guaranty insurance defined.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.12_S21.12.110.md)
- [Alaska Stat. § 21.12.130 Commercial insurance defined.](https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.12_S21.12.130.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_AK_T21_C21.12_S21.12.025. Check the current official text before relying on it. Not legal advice.