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US: NAIC Codes - At a glance

This article briefly highlights NAIC procedures for writing business in the US and provides an insight into NAIC codes.

Tue 26 Sep 2017

Surplus Lines

In order to write surplus lines business in the United States, an important pre-requisite for Lloyd’s syndicates is that they must be listed as eligible surplus lines insurers on the ‘Quarterly Listing of Alien Insurers’ which is maintained by the International Insurers Department (“IID”) of the National Association of Insurance Commissioners (“NAIC”).

To appear on the IID list, syndicates must pay a fee and complete an application with the IID. To remain on the list, syndicates are required to pay an annual fee and complete a filing, including financial statements, copies of auditors’ reports and details of US trust accounts. Full criteria are set forth in the IID ‘Plan of Operation for Listing of Alien Nonadmitted Insurers’.

Once listed, each syndicate is assigned its own NAIC ‘alien identification number’, sometimes referred to as an ‘NAIC code’ or ‘Alien ID’. The listing assures brokers and insureds as to the eligibility of non-US/alien insurers with which surplus lines insurance is being placed.

The Quarterly Listing of Alien Insurers can be found here.


Lloyd’s is an approved reinsurer in all US states and territories. In order to write US reinsurance, Lloyd’s syndicates must be registered with the NAIC. Once registered, the syndicates appear in the NAIC ‘Listing of Companies’ along with their ‘alien identification number’.

Certified Reinsurance

Lloyd’s is also a certified reinsurer in five states: New York, Florida, California, Pennsylvania and Arizona.

This provides Lloyd’s syndicates with the option to post collateral of only 20% of gross liabilities (compared with 100% elsewhere) in respect of US reinsurance contracts with New York, Florida, California, Pennsylvania or Arizona domiciled cedants, where commercially acceptable to both parties. Cedants can still take full 100% balance sheet credit for these contracts, in accordance with the reduced collateral credit for reinsurance laws in those states.

Syndicates registered for certified reinsurance have a ‘certified reinsurance identification number’ (CRIN) on the NAIC Listing of Companies, in addition to the alien identification number.

The NAIC Listing of Companies can be found here.


With respect to Lloyd’s syndicates, what is the distinction between the Quarterly Listing of Alien Insurers and the Listing of Companies?

  • The NAIC Quarterly Listing of Alien Insurers (published quarterly: January, April, July and October) provides the list of syndicates eligible to write US surplus lines business.
  • The NAIC Listing of Companies (published bi-annually: June and December) provides the list of syndicates which can be referred to when seeking to take credit for reinsurance.

Can a Lloyd’s syndicate appear on the NAIC Quarterly Listing of Alien Insurers and the NAIC Listing of Companies?

  • Syndicates that are eligible to write both US surplus lines business and US reinsurance will appear on both lists. In this case, the NAIC code assigned to the syndicate will be the same on both lists.

Do NAIC codes exist for Lloyd’s in general?

  • In terms of the NAIC listing of companies, each syndicate has its own code, rather than a market-wide ‘Lloyd’s code’.