Part 1 — Licensing of Insurers and Reciprocal Insurance Exchanges Subpart 1 Licensing of Insurers Insurer's Duty to be Licensed
62 Reinsurance Reinsurance
insurance made in Alberta, but does not include a contract of
reinsurance.
(2) Despite section 18, an insurer, other than a provincial
company, that is not licensed may enter into a contract as the
insurer that reinsures risks in respect of an Alberta contract if the
insurance business in Alberta of the insurer is restricted to the
reinsurance of risks.
(3) Despite section 18, a licensed insurer that is the insurer under
an Alberta contract may, subject to the regulations, enter into a
contract of reinsurance in respect of the Alberta contract with an
insurer referred to in subsection (2).
1999 cI-5.1 s62