Sec. 38a-91gg. Annual reports. - Connecticut Statutes

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Statutes > Connecticut > Title38a > Chap698 > Sec38a-91gg

      Sec. 38a-91gg. Annual reports. (a) Captive insurance companies shall not be required to make any annual report except as provided in sections 38a-91aa to 38a-91qq, inclusive.

      (b) Prior to March first of each year, each captive insurance company shall submit to the Insurance Commissioner a report of its financial condition verified by oath of two of its executive officers. Each captive insurance company shall report using generally accepted accounting principles, unless the commissioner approves the use of statutory accounting principles, with any appropriate or necessary modifications or adaptations required or approved or accepted by the commissioner for the type of insurance and kinds of insurers to be reported upon, and as supplemented by additional information required by the commissioner. Except as otherwise provided, each association captive insurance company and each risk retention group shall file its report in the form required by sections 38a-53 and 38a-53a. The commissioner may adopt regulations, in accordance with chapter 54, to establish the manner in which pure captive insurance companies and industrial insured captive insurance companies shall report. The provisions of subsection (b) of section 38a-69a shall apply to each report filed pursuant to this section.

      (c) Any pure captive insurance company or industrial insured captive insurance company may make written application to the commissioner for approval to file the required report at the end of the fiscal year. If the commissioner grants approval for such alternative reporting date:

      (1) The annual report shall be due sixty days after the end of the fiscal year; and

      (2) In order to provide sufficient detail to support the premium tax return, the pure captive insurance company or industrial insured captive insurance company shall file prior to March first of each year for each calendar year-end such information as the commissioner may prescribe verified by oath of two of its executive officers.

      (P.A. 08-127, S. 7.)

      History: P.A. 08-127 effective January 1, 2009.

      See Sec. 38a-91nn re premium receipts tax.

State Codes and Statutes

Statutes > Connecticut > Title38a > Chap698 > Sec38a-91gg

      Sec. 38a-91gg. Annual reports. (a) Captive insurance companies shall not be required to make any annual report except as provided in sections 38a-91aa to 38a-91qq, inclusive.

      (b) Prior to March first of each year, each captive insurance company shall submit to the Insurance Commissioner a report of its financial condition verified by oath of two of its executive officers. Each captive insurance company shall report using generally accepted accounting principles, unless the commissioner approves the use of statutory accounting principles, with any appropriate or necessary modifications or adaptations required or approved or accepted by the commissioner for the type of insurance and kinds of insurers to be reported upon, and as supplemented by additional information required by the commissioner. Except as otherwise provided, each association captive insurance company and each risk retention group shall file its report in the form required by sections 38a-53 and 38a-53a. The commissioner may adopt regulations, in accordance with chapter 54, to establish the manner in which pure captive insurance companies and industrial insured captive insurance companies shall report. The provisions of subsection (b) of section 38a-69a shall apply to each report filed pursuant to this section.

      (c) Any pure captive insurance company or industrial insured captive insurance company may make written application to the commissioner for approval to file the required report at the end of the fiscal year. If the commissioner grants approval for such alternative reporting date:

      (1) The annual report shall be due sixty days after the end of the fiscal year; and

      (2) In order to provide sufficient detail to support the premium tax return, the pure captive insurance company or industrial insured captive insurance company shall file prior to March first of each year for each calendar year-end such information as the commissioner may prescribe verified by oath of two of its executive officers.

      (P.A. 08-127, S. 7.)

      History: P.A. 08-127 effective January 1, 2009.

      See Sec. 38a-91nn re premium receipts tax.

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State Codes and Statutes

Statutes > Connecticut > Title38a > Chap698 > Sec38a-91gg

      Sec. 38a-91gg. Annual reports. (a) Captive insurance companies shall not be required to make any annual report except as provided in sections 38a-91aa to 38a-91qq, inclusive.

      (b) Prior to March first of each year, each captive insurance company shall submit to the Insurance Commissioner a report of its financial condition verified by oath of two of its executive officers. Each captive insurance company shall report using generally accepted accounting principles, unless the commissioner approves the use of statutory accounting principles, with any appropriate or necessary modifications or adaptations required or approved or accepted by the commissioner for the type of insurance and kinds of insurers to be reported upon, and as supplemented by additional information required by the commissioner. Except as otherwise provided, each association captive insurance company and each risk retention group shall file its report in the form required by sections 38a-53 and 38a-53a. The commissioner may adopt regulations, in accordance with chapter 54, to establish the manner in which pure captive insurance companies and industrial insured captive insurance companies shall report. The provisions of subsection (b) of section 38a-69a shall apply to each report filed pursuant to this section.

      (c) Any pure captive insurance company or industrial insured captive insurance company may make written application to the commissioner for approval to file the required report at the end of the fiscal year. If the commissioner grants approval for such alternative reporting date:

      (1) The annual report shall be due sixty days after the end of the fiscal year; and

      (2) In order to provide sufficient detail to support the premium tax return, the pure captive insurance company or industrial insured captive insurance company shall file prior to March first of each year for each calendar year-end such information as the commissioner may prescribe verified by oath of two of its executive officers.

      (P.A. 08-127, S. 7.)

      History: P.A. 08-127 effective January 1, 2009.

      See Sec. 38a-91nn re premium receipts tax.