Regulations Governing Financial and Business Operations of Professional Reinsurance Enterprises Article 3

The various reserves to be set aside by professional reinsurance enterprises for assumed reinsurance business, ceded reinsurance business, finite reinsurance, or other types of unconventional reinsurance that is used to spread risks by means of transfer, swap, or securitization (hereinafter referred to as "alternative solutions") shall be processed in accordance with the provisions of Articles 39 to 45, Articles 47 to 53, and Article 55 of the Regulations Governing the Setting Aside of Various Reserves by Insurance Enterprises, except for special reserves which shall be processed in accordance with Articles 4 to 6.The term "retained business" as used in these Regulations means the assumed reinsurance business conducted by a professional reinsurance enterprise minus the reinsurance it cedes.