Determination of Appropriate Groupwide Supervisor [42 Pa.B. 6741]
[Saturday, October 20, 2012]Under section 1406.2(c) of The Insurance Company Law of 1921 (act) (40 P. S. § 991.1406b(c)), the Insurance Department (Department), in cooperation with other supervisors, may determine that it is the appropriate groupwide supervisor for an international insurance group with substantial operations concentrated in this Commonwealth or in insurance operations conducted by subsidiary insurance companies domiciled in this Commonwealth where the ultimate controlling person is domiciled outside this Commonwealth.
In cooperation with other supervisory regulators, the Department has determined that it is the appropriate groupwide supervisor for the ACE Group of Companies (ACE Group). The ultimate controlling person of ACE Group is ACE Limited, the Swiss-incorporated holding company of ACE Group. ACE Group has substantial operations in this Commonwealth. Additionally, this Commonwealth is the state of domicile for ACE American Insurance Company (NAIC No. 22667), the lead company in the ACE American Pool, which includes the following Commonwealth domestic companies:
• ACE Property and Casualty Insurance Company (NAIC No. 20699)
• ACE Fire Underwriters Insurance Company (NAIC No. 20702)
• Pacific Employers Insurance Company (NAIC No. 22748)
• Insurance Company of North America (NAIC No. 22713)
• Bankers Standard Insurance Company (NAIC No. 18279)
• Bankers Standard Fire and Marine Company (NAIC No. 20591)
• Indemnity Insurance Company of North America (NAIC No. 43575)
In addition, Century Indemnity Company (NAIC No. 20710), a run-off operation, Westchester Fire Insurance Company (NAIC No. 10030), Penn Millers Insurance Company (NAIC No. 14982) and American Millers Insurance Company (NAIC No. 23477) are domiciled in this Commonwealth.
Accordingly, this notice shall serve as publication by the Department under section 1406.2(d) of the act, which requires the Department to publish in the Pennsylvania Bulletin and on its web site the identity of international insurance groups that it has determined are subject to its groupwide supervision. This notice will also be available on the Department's web site at http://www.portal.state.pa.us/portal/server.pt/community/doing_business_in_pennsylvania/9264/group-wide_supervision_notices/1249075.
Questions regarding this notice should be directed to Stephen J. Johnson, Deputy Insurance Commissioner, Insurance Department, 1345 Strawberry Square, Harrisburg, PA 17120, fax (717) 787-8557.
MICHAEL F. CONSEDINE,
Insurance Commissioner[Pa.B. Doc. No. 12-2077. Filed for public inspection October 19, 2012, 9:00 a.m.]
