Voluntary surrender of registration requires prior approval, a run-off plan, and adequate capital for orderly wind-down. An MGA may surrender its certificate of registration only with the prior written approval of the Competent Authority. Surrender requires a plan to run off ... Summary
Voluntary surrender of registration requires prior approval, a run-off plan, and adequate capital for orderly wind-down.
An MGA may surrender its certificate of registration only with the prior written approval of the Competent Authority. Surrender requires a plan to run off the existing book of business and evidence of adequate capital to wind down operations in an orderly manner without disrupting policyholder services.
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