174Re-insurance arrangements of licensed insurers

#### 174 Re-insurance arrangements of licensed insurers 174 Re-insurance arrangements of licensed insurers (cf s 111 MAA) > > (1) It is a condition of a licence granted under Part 7.1 that the licensed insurer must notify the Authority of— > > > > > (a) particulars of arrangements made or proposed to be made for re-insurance in respect of liabilities under third-party policies issued by the licensed insurer, and > > > > > (b) the terms of any approval of the Insurance and Superannuation Commissioner under the [Insurance Act 1973](http://www.legislation.gov.au/) of the Commonwealth in respect of any such re-insurance. > > > (2) A licensed insurer must not, without the prior written consent of the Authority, effect any form of re-insurance if the aggregate premium payable for the re-insurance exceeds 15% of the gross direct premium written by the insurer.