Ins 47.01(5)(5) “Reinsurer” means an insurer licensed in this state with the authority to assume reinsurance under ch. 627, Stats.

Ins 47.01(6)(6) “Reinsurance intermediary” means a reinsurance intermediary-broker or a reinsurance intermediary-manager.

Ins 47.01(7)(7) “Reinsurance intermediary-broker” means any person, other than an officer or employe of the ceding insurer, who solicits, negotiates or places reinsurance cessions or retrocessions on behalf of a ceding insurer.

Ins 47.01(8)(a)(a) “Reinsurance intermediary-manager” means any person not excluded under par. (b) who:

Ins 47.01(8)(a)1.1. Has authority to bind, manages a separate division, department or underwriting office with responsibility for, or manages all or part of, assumed reinsurance business of a reinsurer; and

Ins 47.01(8)(a)2.2. Acts as an agent for the reinsurer.

Ins 47.01(8)(b)1.1. An employe of the reinsurer;

Ins 47.01(8)(b)2.2. A United States manager of the United States branch of an alien reinsurer;

Ins 47.01(8)(b)3.3. An underwriting manager which, pursuant to contract, manages all or part of the reinsurance operations of the reinsurer, is under common control with the reinsurer, is subject to ch. 617, Stats., and ch. Ins 40, or the laws and rules of another state which are substantially similar to ch. 617, Stats., and ch. Ins 40, and whose compensation is not based on the volume of premiums written.

Ins 47.01(8)(b)4.4. The manager of a group, association, pool or organization of insurers which engage in joint underwriting or joint reinsurance and who are subject to examination by the insurance commissioner of the state in which the manager’s principal business office is located.

Ins 47.01(9)(9) “Qualified United States financial institution” means a financial institution that:

Ins 47.01(9)(a)(a) Is organized or, in the case of a United States office of a foreign banking organization, licensed, under the laws of the United States or any state;

Ins 47.01(9)(b)(b) Is regulated, supervised and examined by federal or state authorities having regulatory authority over financial institutions; and

Ins 47.01(9)(c)(c) Has been determined by either the commissioner, or the securities valuation office of the national association of insurance commissioners, to meet such standards of financial condition and standing as are considered necessary and appropriate to regulate the quality of financial institutions whose letters of credit will be acceptable to the commissioner.

Ins 47.02(1)(a)(a) No person may act as a reinsurance intermediary-broker in this state if the reinsurance intermediary-broker maintains an office either directly or as a member or employe of a firm or association, or an officer, director or employe of a corporation:

Ins 47.02(1)(a)1.1. In this state, unless the reinsurance intermediary-broker is a licensed reinsurance intermediary-broker in this state;

Ins 47.02(1)(a)2.2. In another state, unless the reinsurance intermediary-broker is a licensed reinsurance intermediary-broker in this state or for that function in another state having a law or rule substantially similar to this chapter.

Ins 47.02(1)(b)(b) Except as provided by sub. (2), no person may act as a reinsurance intermediary-manager:

Ins 47.02(1)(b)1.1. For a reinsurer domiciled in this state, unless the person is a licensed reinsurance intermediary-manager in this state;

Ins 47.02(1)(b)2.2. In this state, if the person maintains an office either directly or as a member or employe of a firm or association, or an officer, director or employe of a corporation in this state, unless the person is a licensed reinsurance intermediary-manager in this state; or

Ins 47.02(1)(b)3.3. In another state for a nondomestic insurer, unless the person is a licensed reinsurance intermediary-manager in this state or for that function in another state having a law substantially similar to this chapter.

Ins 47.02(2)(a)(a) The natural person is named in the application or supplement to an application for a reinsurance intermediary license and the license designates the natural person as authorized to act under the license; and