Determination of Appropriate Groupwide Supervisor for the Global Indemnity Group of Companies [43 Pa.B. 4825]
[Saturday, August 17, 2013]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 Global Indemnity Group of Companies (Global Group). The ultimate controlling person of Global Group is Fox Paine International GP, Ltd., the Cayman exempted holding company of Global Group. Global Group has substantial operations in this Commonwealth. Additionally, this Commonwealth is the state of domicile for United National Insurance Company (NAIC No. 13064), the lead company in the United States insurance company pooling arrangement, which includes the following Commonwealth domestic companies:
• Penn-America Insurance Company (NAIC No. 32859)
• Penn-Star Insurance Company (NAIC No. 10673)
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/group-wide_supervision_notices.
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. 13-1570. Filed for public inspection August 16, 2013, 9:00 a.m.]
