Ohio Miscellaneous Regulatory Material DEPARTMENT OF INSURANCE BULLETINS Bulletin 90-1 Annual audited financial reports - consolidated financial statements	Effective Date May 8, 1990

Section 3901-1-50 of the Ohio Administrative Code, entitled "Annual Audited Financial Reports" (the "Rule"), requires licensed insurance companies, as defined in Sections 1738, 3907, 3909, 3929 or 3953 of the Revised Code ("Insurers") to have an independent certified public accountant conduct an annual audit of the financial statements reporting such Insurer's financial condition and results of its operations.

Section (G) of the Rule allows Insurers to make a written application to the Superintendent of Insurance for approval to file consolidated or combined financial statements in lieu of separate annual audited financial statements. To be considered by the Superintendent, any such application for 1990 and subsequent years should demonstrate that: (1) the Insurer is part of a group of insurance companies which utilizes a pooling or one hundred percent reinsurance agreement that affects the solvency and integrity of the Insurer's reserves, or (2) the Insurer is the parent company of a group of insurance companies and the parent is the only insurance company in the group which is licensed to do business in the State of Ohio.

George Fabe
Director of Insurance

CROSS REFERENCE RULE 3901-1-50

DATE NEW 1990

SUBJECT CATEGORY 360 - Filing and reporting requirements
520 - Acquisition of control
560 - Finance and investments

INDEX

Affiliated insurers and Consolidated reports and Financial statements
Independent audits and Financial statements and Filing requirements
Filing requirements and Affiliated insurers and Consolidated reports