The exposed INT proposes that insurers:
- Use commutation or recapture of life reinsurance contracts in paragraph 58 of SSAP No. 61R when a liquidation order cancels a life reinsurance contract on a cut- off basis
- Impair uncollectible reinsurance recoverable in accordance with SSAP No. 5R
- Report any unimpaired reinsurance recoverables from the reinsurance counterparty on an asset page and recognize any reinsurance payable
- Nonadmit all amounts recoverables from a life reinsurer in liquidation
- Follow existing applicable disclosures and provide additional information sufficient to understand the nature and impact of a reinsurance counterparty in liquidation.