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2013 BENCHMARK SURVEY OF INSURANCE TRANSACTIONS BY U.S.
INSURANCE COMPANIES WITH FOREIGN PERSONS
FORM BE-140
(This report is mandatory and confidential. See General Instructions)
(REV. 1/2014)
Name and address of U.S. Reporter Enter or correct as necessary
10001
Company name
10002
Contact
10003
Street
10004
City
10005
10006
State
Zip Code
Complete and file this form electronically at http://www.bea.gov/efile, or by other means (see below).
Assistance is available at (202) 606-5588, M-F 8:30 A.M. – 5:00 P.M., eastern time.
How to file:
Step 1. Verify or correct name and address of the U.S. reporter named in the mailing label and complete Questions 1-1 to 2-2 .
Step 2. Complete Questions 2-3 through Schedule C based on the instructions given in Part 2.
Step 3. File the completed form by June 30, 2014.
File electronically at: http://www.bea.gov/efile
Mail to:
U.S. Department of Commerce
Bureau of Economic Analysis
BE-50(SSB)
Washington, DC 20230
Fax form to: (202) 606-5318
Deliver to:
U.S. Department of Commerce
Bureau of Economic Analysis
BE-50(SSB)
Shipping and Receiving Section M-100
1441 L Street, NW
Washington, DC 20005
E-mail to: [email protected]
Part 1. U.S. Reporter Information
1-1 Person to consult concerning questions about this
report
10007
Name
10008
Title
10009
Phone
10010
Fax
10011
Email
1-3 Certification — The undersigned official certifies that
this report has been prepared in accordance with the
applicable instructions, is complete, and is substantially
accurate except that, in accordance with Section
V.G of the General Instructions, estimates may have
been prepared where the data are not available from
customary accounting records or precise data could not
be obtained without undue burden.
Authorized official’s signature
1-2 May we use e-mail to correspond with you to discuss questions
relating to this form, including questions that may contain information
about your company that you may consider confidential? (Note:
Electronic mail is not inherently confidential. We will treat information
we receive as confidential but your e-mail is not necessarily secure
against interception by a third party.)
10012
1
Yes
2
No
Print or type name and title
Date
GENERAL INSTRUCTIONS — Continued
Part 1. U.S. Reporter Information – Continued
1-4 Check the Industry Classification below that best describes the U.S. Reporter.
10013
1
5242 - Agencies, brokerages, and other insurance related activities
2
5243 - Insurance carriers, except life insurance carriers
3
5249 - Life insurance carriers
A. For property and casualty insurance companies
Premiums written during 2013, plus unearned premiums
at the beginning of 2013, minus unearned premiums at the
end of 2013. Report premiums net of cancellations. Report
premiums gross of commissions and profit commissions paid
to or received from foreign persons, including commissions
initially paid to or received from a U.S. intermediary (agent or
broker) of a foreign person.
10014
2. Calculate Transaction Type 2, Losses incurred on reinsurance
assumed:
1-6 Check the box that best describes the operating status of your company during the 2013 calendar year.
10015
1
In existence the entire reporting period – Skip Question 1-7 .
2
In existence during only part of the reporting period – Continue filling out this form for the portion of the reporting
period in which your company was in existence and, in the comments section on page 4, explain why your company
did not exist for a part of the period.
3
Not in existence during the reporting period – Please return form according to the instructions on page 1.
Losses paid during 2013, plus case reserves at the end of
2013, plus losses incurred but not reported at the end of
2013, minus case reserves at the beginning of 2013, minus
losses incurred but not reported at the beginning of 2013.
Losses paid should not include loss adjustment expenses
(reportable on Schedule B as auxiliary insurance services).
1
No – Continue with completion of the form.
2
Yes – Enter the name and address of the U.S. person or entity in the box and please return this form according to
the “How to file” instructions on page 1.
Premiums ceded during 2013, plus unearned premiums at
the beginning of 2013, minus unearned premiums at the
end of 2013. Report premiums net of cancellations. Report
premiums gross of commissions and profit commissions paid
to or received from foreign persons, including commissions
initially paid to or received from a U.S. intermediary (agent or
broker) of a foreign person.
Losses recovered during 2013, plus case reserves at the
end of 2013, plus losses incurred but not reported at the
end of 2013, minus case reserves at the beginning of 2013,
minus losses incurred but not reported at the beginning of
2013. Losses recovered should not include loss adjustment
expenses (reportable on Schedule B as auxiliary insurance
services).
Contact
Phone
Street
1
2
3
City
State
Zip Code
2
Property and casualty insurance
3
Other — Specify
Premiums written during 2013, plus unearned premiums
at the beginning of 2013, minus unearned premiums at the
end of 2013. Report premiums net of cancellations. Report
premiums gross of commissions and profit commissions paid
to or received from foreign persons, including commissions
initially paid to or received from a U.S. intermediary (agent or
broker) of a foreign person.
6. Calculate Transaction Type 6, Losses incurred on direct
insurance:
1-9 What best describes your organization?
10018
1
Insurance Company
2
Insurance Broker
3
Insurance Group - Please attach a list of member companies that are consolidated in this report (enter in the
comment box on Page 4).
FORM BE-140 (REV. 1/2014)
Losses incurred reflect policy claims on reinsurance assumed,
adjusted for changes in claims due, unpaid, and in the course
of settlement.
3. Calculate Transaction Type 3, Premiums paid for reinsurance
ceded:
Premiums paid reflect premiums accrued on reinsurance
ceded to insurance companies resident abroad. These
amounts, therefore, are adjusted for changes in due, deferred,
and advanced premiums for each year. Report premiums
gross of commissions and profit commissions paid to or
received from foreign persons, including commissions initially
paid to or received from a U.S. intermediary (agent or broker)
of a foreign person.
4. Calculate Transaction Type 4, Losses recovered on
reinsurance ceded:
Losses recovered reflect policy claims on reinsurance ceded,
adjusted for changes in claims due, unpaid, and in the course
of settlement.
www.bea.gov
5. Calculate Transaction Type 5, Premiums earned from direct
insurance:
Report premiums earned. These amounts should be adjusted
for changes in due, deferred, and advanced premiums for
2013. Report premiums gross of commissions and profit
commissions paid to foreign persons, including commissions
initially paid to a U.S. intermediary (agent or broker) of a
foreign person.
5. Calculate Transaction Type 5, Premiums earned from direct
insurance:
1-8 What is your principal line of insurance?
Life insurance
2. Calculate Transaction Type 2, Losses incurred on reinsurance
assumed:
4. Calculate Transaction Type 4, Losses recovered on
reinsurance ceded:
Company name
1
Premiums earned reflect premiums accrued on reinsurance
assumed from insurance companies resident abroad. These
amounts, therefore, are adjusted for changes in due, deferred,
and advanced premiums for each year. Report premiums
gross of commissions and profit commissions paid to or
received from foreign persons, including commissions initially
paid to or received from a U.S. intermediary (agent or broker)
of a foreign person.
3. Calculate Transaction Type 3, Premiums paid for reinsurance
ceded:
1-7 Was your company owned to the extent of more than 50 percent by another U.S. company at any point
during the 2013 calendar year?
10017
1. Calculate Transaction Type 1, Premiums earned on
reinsurance assumed:
1. Calculate Transaction Type 1, Premiums earned on
reinsurance assumed:
1-5 What is the primary Employer Identification Number used by the U.S. Reporter to file U.S. income or
payroll taxes?
10016
B. For life insurance companies
VI. SPECIFIC ITEM INSTRUCTIONS
Losses paid during 2013, plus case reserves at the end of
2013, plus losses incurred but not reported at the end of
2013, minus case reserves at the beginning of 2013, minus
losses incurred but not reported at the beginning of 2013.
Losses paid should not include loss adjustment expenses
(reportable under Transaction Type 8, Payments for auxiliary
insurance services).
Page 2
Page 15
6. Calculate Transaction Type 6, Losses incurred on direct
insurance:
Losses incurred reflect policy claims on direct insurance
assumed, adjusted for changes in claims due, unpaid, and in
the course of settlement.
C. Calculate Transaction Types 7 and 8: Auxiliary
insurance services
Include agent commissions, insurance brokering and agency
services, insurance consulting services, evaluation, allocated loss
adjustment expenses, and other adjustment services, actuarial
services, salvage administration services, and regulatory and
monitoring services on indemnities and recovery service.
www.bea.gov
FORM BE-140 (REV. 1/2014)
GENERAL INSTRUCTIONS — Continued
IV. DEFINITIONS
A. Insurance Companies, for purposes of this survey, includes
insurance carriers of all types, and groups of such companies.
B. United States, when used in a geographic sense, means the
several states, the District of Columbia, the Commonwealth of
Puerto Rico, and all the territories and possessions of the United
States. NOTE: The U.S. Virgin Islands and Guam are territories
of the United States.
C. Foreign, when used in a geographic sense, means that which
is situated outside the United States or which belongs to or is
characteristic of a country other than the United States.
D. Person means any individual, branch, partnership, associated
group, association, estate, trust, corporation, or other
organization (whether or not organized under the laws of any
State), and any government (including a foreign government, the
U.S. Government, a State or local government, and any agency,
corporation, financial institution, or other entity or instrumentality
thereof, including a government sponsored agency).
1. United States person means any person resident in
the United States or subject to the jurisdiction of the United
States.
2. Foreign person means any person resident outside the
United States or subject to the jurisdiction of a country other
than the United States.
E. Business enterprise means any organization, association,
branch, or venture which exists for profitmaking purposes or to
otherwise secure economic advantage, and any ownership of
any real estate. (A business enterprise is a “person” within the
definition in paragraph D above.)
F. Direct investment means the ownership or control, directly
or indirectly, by one person of 10 per cent or more of the voting
stock of an incorporated business enterprise, or an equivalent
ownership interest in an unincorporated business enterprise.
G. Parent means a person of one country who, directly or indirectly,
owns or controls 10 per cent or more of the voting stock of an
incorporated business enterprise or an equivalent ownership
interest in an unincorporated business enterprise, which is
located outside that country.
1. U.S. parent means the U.S. person that has direct
investment in a foreign business enterprise.
2. Foreign parent means the foreign person, or the first
person outside the United States in a foreign chain of
ownership, which has direct investment in a U.S. business
enterprise, including a branch.
H. Affiliated foreign group means (i) the foreign parent, (ii) any
foreign person, proceeding up the foreign parent’s ownership
chain, which owns more than 50 per cent of the person below
it up to and including that person which is not owned more
than 50 per cent by another foreign person, and (iii) any foreign
person, proceeding down the ownership chain(s) of each of these
members that is owned more than 50 per cent by the person
above it.
I. Affiliate means a business enterprise located in one country
that is directly or indirectly owned or controlled by a person of
another country to the extent of 10 per cent or more of its voting
stock for an incorporated business or an equivalent interest for an
unincorporated business, including a branch.
FORM BE-140 (REV. 1/2014)
Part 2. Total Premiums and Losses and Reporting Status
1. Foreign affiliate means an affiliate located outside the
United States in which a U.S. person has direct investment.
2. U.S. affiliate means an affiliate located in the United States
in which a foreign person has direct investment.
2-1 Report the total amount of transactions for the following types of insurance services between the
U.S. reporter and foreign persons during the 2013 calendar year.
(A foreign person refers to an individual or entity resident outside of the U.S. or subject to the jurisdiction of a country
other than the U.S., regardless of whether it is affiliated with the U.S. reporter. Transactions of the foreign affiliates of
the U.S. reporter should not be included unless the transactions are with the U.S. reporter.)
3. Foreign affiliate of a foreign parent means, with
reference to a given U.S. affiliate, any member of the affiliated
foreign group owning the U.S. affiliate that is not a foreign
parent of the U.S. affiliate.
J. Affiliated foreign person means, with respect to a given U.S.
person, (i) a foreign affiliate of which the U.S. person is a U.S.
parent, or (ii) the foreign parent or other member of the affiliated
foreign group of which the U.S. person is a U.S. affiliate.
K. Unaffiliated foreign person means, with respect to a given
U.S. person, any foreign person that is not an affiliated foreign
person as defined in paragraph J above.
L. Country means the country of location of the foreign person
with whom a transaction has occurred.
(See Section VI of the General Instructions for detailed instructions on calculating the amount of each transaction
type in the table below.)
Transaction
type code
Bil.
21001
21002
21003
V. REPORTING PROCEDURES
A. Due date — A completed BE-140 is due June 30,
2014.
B. Calendar year — You must report on a calendar year basis.
C. Extension — For the efficient processing of the survey and
timely dissemination of the results, it is important that your report
be filed by the due date. Nevertheless, reasonable requests for
extension of the reporting deadline will be granted. Requests
for an extension of more than 30 days MUST be in writing
and should explain the basis for the request. You may request
an extension via email at [email protected] or fax the
request to (202) 606-5318. All requests for extension must be
received NO LATER THAN the due date of the report.
D. For assistance or additional copies of the forms —
Phone (202)606-5588 between 8:30 a.m. and 5:00 p.m. eastern
time. Copies of our forms are also available on BEA’s web page:
www.bea.gov/bea/surveys/iussurv.htm
E. Response required — If you received this form directly from
BEA, a response is required, by completing Parts I, II, and III, and
the appropriate schedule, if required, and returning the form to
BEA by June 30, 2014.
F. Rounding — Report currency amounts in U.S. dollars rounded
to thousands (omitting 000). For example, if the amount is
$1,334,515.00, report it as $1,335.
G. Estimates — If actual figures are not available, report
estimates and label them as such. When data items cannot
be fully subdivided as required, report totals and an estimated
breakdown of the totals.
Amount
Transaction Type
21004
21005
21006
21007
21008
Mil.
Schedules for
country details
Thou.
Dols.
1.
Premiums earned on reinsurance assumed from
companies resident abroad
$
000
Schedule A
2.
Losses incurred on reinsurance assumed from
companies resident abroad
$
000
Schedule A
3.
Premiums paid for reinsurance ceded to companies
resident abroad
$
000
Schedule A
4.
Losses recovered on reinsurance ceded to companies
$
resident abroad
000
Schedule A
5.
Premiums earned from direct insurance sold to foreign
$
persons
000
Schedule B
6.
Losses incurred on direct insurance sold to foreign
persons
$
000
Schedule B
7.
Receipts for auxiliary insurance services provided to
foreign persons
$
000
Schedule B
8.
Payments for auxiliary insurance services provided by
foreign persons
$
000
Schedule B
2-2 Was the total amount for any of the transaction types 1 through 8 in Question 2-1 greater than
positive $2 million or less than negative $2 million for the 2013 calendar year?
22000
1
Yes
Go to the next question.
2
No
Stop here and return the first 3 pages of the survey according to the instructions on
page 1.
2-3 Did your company have any large, infrequent reinsurance transactions in 2013, defined as
those contracts with premiums assumed or ceded in excess of $1 billion more than the
size of your average regular contracts in 2012 (This includes new contracts in excess of $1
billion)? Mark (X) one.
23000
1
Yes
Go to the next question.
2
No
Go to Question 2-6 .
H. Original and file copies — A single original copy of the form
must be filed with BEA if filing by mail. Please use the copy with
the address label if such a labeled copy has been provided. In
addition, each U.S. reporter must retain a copy of its form for
three years to facilitate resolution of problems.
www.bea.gov
Page 14
Page 3
www.bea.gov
FORM BE-140 (REV. 1/2014)
GENERAL INSTRUCTIONS
2-4 If the answer to Question 2-3 is “Yes”, enter the amount of premium for each large, infrequent
transaction during the survey period in the table below:
Premium
Transaction ID
Bil.
Example
24001
24002
24003
24004
24005
24006
24007
24008
24009
24010
Public reporting burden for this BE-140 report is estimated to
average 8 hours per response. This burden includes time for
reviewing instructions, searching existing data sources, gathering
and maintaining the data needed, and completing and reviewing
the collection of information. Send comments regarding this burden
estimate to Director, Bureau of Economic Analysis (BE-1), U.S.
Department of Commerce, Washington, DC 20230; and to the Office
of Management and Budget, Paperwork Reduction Project 06080073, Washington, DC 20503.
$ 5,
1.
Mil.
Thou.
Dols.
452,
564
000
$
000
2.
$
000
3.
$
000
4.
$
000
5.
$
000
6.
$
000
7.
$
000
8.
$
000
9.
$
000
10.
$
000
Purpose — The 2013 Benchmark Survey of Insurance Transactions
by U.S. Insurance Companies with Foreign Persons is conducted
by the Department of Commerce to obtain data on the size and
economic significance of these transactions. The information
collected will be used to help support U.S. international economic
policy and to analyze the impact of that policy and the policies of
foreign countries on international trade in services. The data will also
be used to compile the U.S. international transactions and national
income and product accounts.
Authority — This survey is being conducted under the authority
of the International Investment and Trade in Services Survey Act
(P.L. 94-472, 90 Stat. 2059, 22 U.S.C. 3101-3108, as amended –
hereinafter “the Act”), and the filing of reports is mandatory under
section 5(b)(2) of the Act (22 U.S.C. 3104). Regulations for the
survey may be found in 15 CFR Part 801.
Penalties — Whoever fails to report may be subject to a civil
penalty of not less than $2,500, and not more than $25,000, and
to injunctive relief commanding such person to comply, or both.
The civil penalties are subject to inflationary adjustments. Those
adjustments are found in 15 CFR 6.4. Whoever willfully fails to report
shall be fined not more than $10,000 and, if an individual, may be
imprisoned for not more than one year, or both. Any officer, director,
employee, or agent of any corporation who knowingly participates
in such violations, upon conviction, may be punished by a like fine,
imprisonment, or both. (See 22 U.S.C. 3105.) Notwithstanding the
above, a U.S. person is not subject to any penalty for failure to report
if a valid Office of Management and Budget (OMB) control number is
not displayed on the form; such a number (0608-0073) is displayed at
the top of the first page of this form.
2-5 For each transaction ID with non-zero premium in the table above, fill out one sheet of
Schedule C with information about the characteristics of the transaction. Make sure that you
provide the corresponding Transaction ID from Question 2-4 for each sheet of Schedule C.
2-6 Provide comments regarding the items reported on this survey in the space below, and then
continue to Part 3.
Confidentiality — The Act provides that your report to this Bureau
is CONFIDENTIAL and may be used only for analytical and statistical
purposes. Without your prior written permission, the information filed
in your report CANNOT be presented in a manner that allows it to be
individually identified. Your report CANNOT be used for purposes of
taxation, investigation, or regulation. Copies retained in your files are
immune from legal process.
I. WHO IS TO REPORT AND GENERAL COVERAGE
A. Who must report
1. Form BE-140 is to be filed by U.S. insurance companies
that have engaged in reinsurance transactions with foreign
persons, that have earned premiums from, or incurred losses
to, foreign persons in the capacity of direct insurers, or that
have engaged in international sale or purchase transactions
in services auxiliary to insurance.
2. Responses through Question 2-2 are mandatory regardless
of the transaction sizes.
3. If, with respect to these transactions, any of the following eight
transaction types reported in Question 2-1 was greater than
positive $2,000,000 or less than negative $2,000,000 for the
2013 calendar year, on an accrual basis, then responses to
FORM BE-140 (REV. 1/2014)
www.bea.gov
Page 4
Page 13
all of the remaining questions are mandatory: (1) premiums
earned on reinsurance assumed, and (2) losses incurred
on reinsurance assumed; (3) premiums paid for reinsurance
ceded, and (4) losses recovered on reinsurance ceded;
(5) premiums earned from direct insurance, and (6) losses
incurred on direct insurance; (7) Receipts for auxiliary
insurance services, and (8) Payments for auxiliary insurance
services.
4. If, however, all of the amounts reported in Question 2-1 were
less than $2,000,000 and greater than negative $2,000,000,
then responses to all the remaining questions are voluntary.
B. Transactions involving a broker — At times, insurance
transactions between a U.S. person and a foreign person may
be arranged by, billed through, or otherwise facilitated by, a
broker, agent, or intermediary. In order to avoid duplication, the
data should be reported by the insurance company assuming
the risk or recovering or paying the loss. Brokers, agents, and
intermediaries are generally not to report.
II. WHAT TO REPORT
A. Report transactions with affiliated foreign persons as well as
with unaffiliated foreign persons (see Definitions IV.J and
K). Please file the appropriate schedules to report
transactions with (1) your foreign affiliates, (2) your
foreign parent(s), and other members of the affiliated
foreign group, and (3) unaffiliated foreign persons.
B. Report transactions with alien insurance groups, whether or
not funds remitted to and from these organizations are cleared
through their American Trust Funds.
C. Note that the criterion for reporting is whether the transaction
is between a U.S. person and a foreign person. It is immaterial
whether the assets insured are located in the United States or
abroad.
D. Report transactions with U.S. affiliates of foreign firms for the
account of their foreign parent firm. (Report them on
the schedule covering your transactions with unaffiliated foreign
persons.)
E. Report transactions with foreign persons made by your foreign
affiliate for your account. (Report them on the schedule
covering your transactions with unaffiliated foreign persons.)
III. WHAT NOT TO REPORT
A. Do not report transactions with U.S. affiliates of foreign firms
for their own account. Transactions with these U.S. affiliates are
considered domestic-to-domestic for purposes of this survey.
B. Do not report transactions with foreign persons made by your
foreign affiliates for their own account.
C. Do not report premiums to, or losses from, foreign insurance
companies on direct insurance. Premiums on such insurance
purchased from foreign insurance companies are to be reported
on Form BE-120, Benchmark Survey of Transactions in Selected
Services and Intellectual Property with Foreign Persons, and
on Form BE-125, Quarterly Survey of Transactions in Selected
Services and Intellectual Property with Foreign Persons. Copies
of these surveys can be downloaded from BEA’s web site at
http://www.bea.gov/surveys/iussurv.htm.
www.bea.gov
FORM BE-140 (REV. 1/2014)
SCHEDULE C — Characteristics of the Large, Infrequent Reinsurance Transactions
Identified in Question 2-4 .
3-1 The country transaction details of the U.S. reporter in the 2013 calendar year for: (1) reinsurance
transactions represented by transaction type codes 1 though 4 in the table of Question 2-1
should be reported in Schedule A, and (2) primary insurance transactions represented by
transaction type codes 5 though 8 in the table of Question 2-1 should be reported in Schedule B.
Transaction ID: ____________ (the transaction ID number (1-10) from Question 2-4 )
C-1 Is this transaction associated with a new or an existing contract? Mark (X) one.
50001
1
New Contract
2
Existing Contract
3-2 The country transaction details of the U.S. reporter should be reported separately based on the
U.S. reporter’s relationship with the foreign transactors: (1) Foreign affiliates, (2) Foreign
parent(s) and other members of the affiliated foreign group, and (3) Unaffiliated foreign persons.
C-2 What type of business does this contract reinsure? Mark (X) one.
50002
1
Life insurance (including Annuity)
2
Other, explain in Question C-11 below
3-3 Check the schedules below that are applicable to your company for reporting country transaction
details between the U.S. reporter and foreign persons:
C-3 Is the transaction assumed or ceded? Mark (X) one.
50003
1
Assumed
2
Ceded
C-4 What is the contract type? Mark (X) one.
50004
30001
1
Yearly Renewable Term (YRT)
4
Catastrophic (CAT)
2
Coinsurance
5
Other, explain in Question C-11 below
3
Modified coinsurance
30002
30003
C-5 How much reserve adjustment is associated with this transaction? Answer $0 if none.
50005
Bil.
Mil.
Thou.
$
Part 3. Instructions For Reporting Transactions By Country
30004
Dols.
30005
00 0
30006
C-6 What is the average annual premium for this contract? Estimate if necessary.
50006
Bil.
Mil.
Thou.
$
Check
Schedule
Transaction
Type Code
Foreign affiliation
■
■
■
■
■
Schedule A1
1 though 4
Foreign affiliates
Schedule A2
1 though 4
Foreign parent(s) and other members of the affiliated foreign group
Schedule A3
1 though 4
Unaffiliated foreign persons
Schedule B1
5 though 8
Schedule B2
5 though 8
Foreign parent(s) and other members of the affiliated foreign group
■
Schedule B3
5 though 8
Unaffiliated foreign persons
Foreign affiliates
Dols.
000
3-4 Report amounts in U.S. dollars rounded to thousands (omitting 000). If actual
data are not available, provide your best estimate.
C-7 In which country is the foreign entity in this transaction located? Select one.
Bil.
50007
Example: report $1,033,624 as
$
C-8 What is your company’s affiliation with the foreign entity? Mark (X) one.
50008
1
Foreign affiliates
2
Foreign parents(s) and other members of the affiliated foreign group
3
Unaffiliated foreign persons
Mil.
1
Thou.
Dols.
0 3 4
0 00
C-9 Is this a short duration or long duration contract? Mark (X) one.
50009
1
Short duration, prospective
2
Short duration, retroactive
3
Long duration
C-10 What is the reinsurance percentage (0-100) assumed from or ceded to a foreign entity in this contract?
50010
%
C-11 Provide additional information regarding this transaction, such as comments from statutory reports
and who the contract was assumed from or ceded to, in the space below.
50011
FORM BE-140 (REV. 1/2014)
www.bea.gov
Page 12
Page 5
www.bea.gov
FORM BE-140 (REV. 1/2014)
SCHEDULE B3 — Direct Insurance Transactions
with Unaffiliated Foreign Persons
SCHEDULE A1 — Reinsurance Transactions with Foreign Affiliates
BEA
USE
ONLY
Country
Transaction Type 1:
Premiums earned on
reinsurance assumed
from
1
Transaction Type 3:
Premiums paid for
reinsurance ceded to
Transaction Type 4:
Losses recovered on
reinsurance ceded to
BEA
USE
ONLY
Country
Foreign Affiliates
Bil.
31000
Transaction Type 2:
Losses incurred on
reinsurance assumed
from
Mil.
2
Thou.
Dols. Bil.
3
Mil.
Thou.
Dols. Bil.
4
Mil.
Thou.
Dols. Bil.
5
Mil.
Thou.
Dols.
43000
1
001
000
000
000
000
2
002
000
000
000
000
3
003
000
000
000
4
004
000
000
5
005
000
6
006
000
7
Transaction Type 6:
Losses incurred on
primary insurance
sold to
Transaction Type 7:
Receipts for auxiliary
insurance services
Transaction Type 8:
Payments for auxiliary
insurance services
Unaffiliated foreign persons
Bil.
6
1 TOTAL - Sum of Items 2
through 33.
Transaction Type 5:
Premiums earned
from primary
insurance sold to
Mil.
2
Thou.
Dols. Bil.
3
Mil.
Thou.
Dols. Bil.
4
Mil.
Thou.
Dols. Bil.
5
Mil.
Thou.
Dols.
6
1 TOTAL - Sum of Items 2
through 33.
2
001
000
000
000
000
002
000
000
000
000
000
3
003
000
000
000
000
000
000
4
004
000
000
000
000
000
000
000
5
005
000
000
000
000
000
000
000
6
006
000
000
000
000
007
000
000
000
000
7
007
000
000
000
000
8
008
000
000
000
000
8
008
000
000
000
000
9
009
000
000
000
000
9
009
000
000
000
000
10
010
000
000
000
000
10
010
000
000
000
000
11
011
000
000
000
000
11
011
000
000
000
000
12
012
000
000
000
000
12
012
000
000
000
000
13
013
000
000
000
000
13
013
000
000
000
000
014
000
000
000
000
14
014
000
000
000
000
15
015
000
000
000
000
15
015
000
000
000
000
16
016
000
000
000
000
16
016
000
000
000
000
17
017
000
000
000
000
17
017
000
000
000
000
18
018
000
000
000
000
18
018
000
000
000
000
19
019
000
000
000
000
19
019
000
000
000
000
20
020
000
000
000
000
20
020
000
000
000
000
21
021
000
000
000
000
21
021
000
000
000
000
22
022
000
000
000
000
22
022
000
000
000
000
23
023
000
000
000
000
23
023
000
000
000
000
24
024
000
000
000
000
24
024
000
000
000
000
25
025
000
000
000
000
25
025
000
000
000
000
26
026
000
000
000
000
26
026
000
000
000
000
27
027
000
000
000
000
27
027
000
000
000
000
28
028
000
000
000
000
28
028
000
000
000
000
29
029
000
000
000
000
29
029
000
000
000
000
30
030
000
000
000
000
30
030
000
000
000
000
31
031
000
000
000
000
31
031
000
000
000
000
32
032
000
000
000
000
32
032
000
000
000
000
33
033
000
000
000
000
33
033
000
000
000
000
14
More than one copy of this sheet can be used when necessary.
FORM BE-140 (REV. 1/2014)
www.bea.gov
More than one copy of this sheet can be used when necessary.
Page 6
Page 11
www.bea.gov
FORM BE-140 (REV. 1/2014)
SCHEDULE A2 — Reinsurance Transactions with Foreign Parent(s)
and Other Members of the Affiliated Foreign Group
SCHEDULE B2 — Direct Insurance Transactions with Foreign Parent(s) and Other
Members of the Affiliated Foreign Group
BEA
USE
ONLY
Country
42000
Transaction Type 5:
Premiums earned
from direct insurance
sold to
Transaction Type 7:
Receipts for auxiliary
insurance services
Transaction Type 8:
Payments for auxiliary
insurance services
Mil.
2
Thou.
Dols. Bil.
3
Mil.
Thou.
Dols. Bil.
4
Mil.
Thou.
Dols. Bil.
5
Mil.
Thou.
Dols.
Transaction Type 2:
Losses incurred on
reinsurance assumed
from
Transaction Type 3:
Premiums paid for
reinsurance ceded to
Transaction Type 4:
Losses recovered on
reinsurance ceded to
Foreign parent(s) and other members of the affiliated foreign group
Mil.
2
Thou.
Dols. Bil.
3
Mil.
Thou.
Dols. Bil.
4
Mil.
Thou.
Dols. Bil.
5
Mil.
Thou.
Dols.
6
001
000
000
000
000
000
1 TOTAL - Sum of Items 2
through 33.
2
002
000
000
000
000
000
000
3
003
000
000
000
000
000
000
000
4
004
000
000
000
000
000
000
000
5
005
000
000
000
000
000
6
006
000
000
000
000
000
000
000
000
000
000
000
002
000
000
000
3
003
000
000
4
004
000
5
005
000
000
32000
1
001
006
Transaction Type 1:
Premiums earned on
reinsurance assumed
from
Bil.
6
1 TOTAL - Sum of Items 2
through 33.
2
6
BEA
USE
ONLY
Country
Foreign parent(s) and other members of the affiliated foreign group
Bil.
1
Transaction Type 6:
Losses incurred
on direct insurance
sold to
000
000
7
007
000
000
000
000
7
007
000
8
008
000
000
000
000
8
008
000
000
000
000
9
009
000
000
000
000
9
009
000
000
000
000
10
010
000
000
000
000
10
010
000
000
000
000
11
011
000
000
000
000
11
011
000
000
000
000
12
012
000
000
000
000
12
012
000
000
000
000
13
013
000
000
000
000
13
013
000
000
000
000
000
14
014
000
000
000
000
000
000
000
14
000
014
000
000
15
015
000
000
000
000
15
015
000
16
016
000
000
000
000
16
016
000
000
000
000
17
017
000
000
000
000
17
017
000
000
000
000
18
018
000
000
000
000
18
018
000
000
000
000
19
019
000
000
000
000
19
019
000
000
000
000
20
020
000
000
000
000
20
020
000
000
000
000
21
021
000
000
000
000
21
021
000
000
000
000
000
22
022
000
000
000
000
000
000
000
22
000
022
000
000
23
023
000
000
000
000
23
023
000
24
024
000
000
000
000
24
024
000
000
000
000
25
025
000
000
000
000
25
025
000
000
000
000
26
026
000
000
000
000
26
026
000
000
000
000
27
027
000
000
000
000
27
027
000
000
000
000
28
028
000
000
000
000
28
028
000
000
000
000
29
029
000
000
000
000
29
029
000
000
000
000
30
030
000
000
000
000
30
030
000
000
000
000
31
031
000
000
000
000
31
031
000
000
000
000
32
032
000
000
000
000
32
032
000
000
000
000
33
033
000
000
000
000
33
033
000
000
000
000
More than one copy of this sheet can be used when necessary.
More than one copy of this sheet can be used when necessary.
FORM BE-140 (REV. 1/2014)
www.bea.gov
Page 10
Page 7
www.bea.gov
FORM BE-140 (REV. 1/2014)
SCHEDULE A3 — Reinsurance Transactions
with Unaffiliated Foreign Persons
BEA
USE
ONLY
Country
Transaction Type 1:
Premiums earned on
reinsurance assumed
from
1
Transaction Type 2:
Losses incurred on
reinsurance assumed
from
Transaction Type 3:
Premiums paid for
reinsurance ceded to
Transaction Type 4:
Losses recovered on
reinsurance ceded to
BEA
USE
ONLY
Country
Unaffiliated foreign persons
Bil.
33000
SCHEDULE B1 — Direct Insurance Transactions with Foreign Affiliates
Mil.
2
Thou.
Dols. Bil.
3
Mil.
Thou.
Dols. Bil.
4
Mil.
Thou.
Dols. Bil.
5
Mil.
Thou.
Dols.
41000
1
001
000
000
000
000
002
000
000
000
3
003
000
000
4
004
000
5
005
6
2
Transaction Type 6:
Losses incurred
on direct insurance
sold to
Transaction Type 7:
Receipts for auxiliary
insurance services
Transaction Type 8:
Payments for auxiliary
insurance services
Foreign Affiliates
Bil.
6
1 TOTAL - Sum of Items 2
through 33.
2
Transaction Type 5:
Premiums earned
from direct insurance
sold to
Mil.
Thou.
Dols. Bil.
3
Mil.
Thou.
Dols. Bil.
4
Mil.
Thou.
Dols. Bil.
5
Mil.
Thou.
Dols.
6
001
000
000
000
000
000
1 TOTAL - Sum of Items 2
through 33.
2
002
000
000
000
000
000
000
3
003
000
000
000
000
000
000
000
4
004
000
000
000
000
000
000
000
000
5
005
000
000
000
000
006
000
000
000
000
6
006
000
000
000
000
7
007
000
000
000
000
7
007
000
000
000
000
8
008
000
000
000
000
8
008
000
000
000
000
9
009
000
000
000
000
9
009
000
000
000
000
010
000
000
000
000
10
010
000
000
000
000
11
011
000
000
000
000
11
011
000
000
000
000
12
012
000
000
000
000
12
012
000
000
000
000
13
013
000
000
000
000
13
013
000
000
000
000
14
014
000
000
000
000
14
014
000
000
000
000
15
015
000
000
000
000
15
015
000
000
000
000
16
016
000
000
000
000
16
016
000
000
000
000
17
017
000
000
000
000
17
017
000
000
000
000
018
000
000
000
000
18
018
000
000
000
000
19
019
000
000
000
000
19
019
000
000
000
000
20
020
000
000
000
000
20
020
000
000
000
000
21
021
000
000
000
000
21
021
000
000
000
000
22
022
000
000
000
000
22
022
000
000
000
000
23
023
000
000
000
000
23
023
000
000
000
000
24
024
000
000
000
000
24
024
000
000
000
000
25
025
000
000
000
000
25
025
000
000
000
000
26
026
000
000
000
000
26
026
000
000
000
000
27
027
000
000
000
000
27
027
000
000
000
000
28
028
000
000
000
000
28
028
000
000
000
000
29
029
000
000
000
000
29
029
000
000
000
000
30
030
000
000
000
000
30
030
000
000
000
000
31
031
000
000
000
000
31
031
000
000
000
000
32
032
000
000
000
000
32
032
000
000
000
000
033
000
000
000
000
33
033
000
000
000
000
10
18
33
More than one copy of this sheet can be used when necessary.
FORM BE-140 (REV. 1/2014)
www.bea.gov
More than one copy of this sheet can be used when necessary.
Page 8
Page 9
www.bea.gov
FORM BE-140 (REV. 1/2014)
SCHEDULE A3 — Reinsurance Transactions
with Unaffiliated Foreign Persons
BEA
USE
ONLY
Country
Transaction Type 1:
Premiums earned on
reinsurance assumed
from
1
Transaction Type 2:
Losses incurred on
reinsurance assumed
from
Transaction Type 3:
Premiums paid for
reinsurance ceded to
Transaction Type 4:
Losses recovered on
reinsurance ceded to
BEA
USE
ONLY
Country
Unaffiliated foreign persons
Bil.
33000
SCHEDULE B1 — Direct Insurance Transactions with Foreign Affiliates
Mil.
2
Thou.
Dols. Bil.
3
Mil.
Thou.
Dols. Bil.
4
Mil.
Thou.
Dols. Bil.
5
Mil.
Thou.
Dols.
41000
1
001
000
000
000
000
002
000
000
000
3
003
000
000
4
004
000
5
005
6
2
Transaction Type 6:
Losses incurred
on direct insurance
sold to
Transaction Type 7:
Receipts for auxiliary
insurance services
Transaction Type 8:
Payments for auxiliary
insurance services
Foreign Affiliates
Bil.
6
1 TOTAL - Sum of Items 2
through 33.
2
Transaction Type 5:
Premiums earned
from direct insurance
sold to
Mil.
Thou.
Dols. Bil.
3
Mil.
Thou.
Dols. Bil.
4
Mil.
Thou.
Dols. Bil.
5
Mil.
Thou.
Dols.
6
001
000
000
000
000
000
1 TOTAL - Sum of Items 2
through 33.
2
002
000
000
000
000
000
000
3
003
000
000
000
000
000
000
000
4
004
000
000
000
000
000
000
000
000
5
005
000
000
000
000
006
000
000
000
000
6
006
000
000
000
000
7
007
000
000
000
000
7
007
000
000
000
000
8
008
000
000
000
000
8
008
000
000
000
000
9
009
000
000
000
000
9
009
000
000
000
000
010
000
000
000
000
10
010
000
000
000
000
11
011
000
000
000
000
11
011
000
000
000
000
12
012
000
000
000
000
12
012
000
000
000
000
13
013
000
000
000
000
13
013
000
000
000
000
14
014
000
000
000
000
14
014
000
000
000
000
15
015
000
000
000
000
15
015
000
000
000
000
16
016
000
000
000
000
16
016
000
000
000
000
17
017
000
000
000
000
17
017
000
000
000
000
018
000
000
000
000
18
018
000
000
000
000
19
019
000
000
000
000
19
019
000
000
000
000
20
020
000
000
000
000
20
020
000
000
000
000
21
021
000
000
000
000
21
021
000
000
000
000
22
022
000
000
000
000
22
022
000
000
000
000
23
023
000
000
000
000
23
023
000
000
000
000
24
024
000
000
000
000
24
024
000
000
000
000
25
025
000
000
000
000
25
025
000
000
000
000
26
026
000
000
000
000
26
026
000
000
000
000
27
027
000
000
000
000
27
027
000
000
000
000
28
028
000
000
000
000
28
028
000
000
000
000
29
029
000
000
000
000
29
029
000
000
000
000
30
030
000
000
000
000
30
030
000
000
000
000
31
031
000
000
000
000
31
031
000
000
000
000
32
032
000
000
000
000
32
032
000
000
000
000
033
000
000
000
000
33
033
000
000
000
000
10
18
33
More than one copy of this sheet can be used when necessary.
FORM BE-140 (REV. 1/2014)
www.bea.gov
More than one copy of this sheet can be used when necessary.
Page 8
Page 9
www.bea.gov
FORM BE-140 (REV. 1/2014)
SCHEDULE A2 — Reinsurance Transactions with Foreign Parent(s)
and Other Members of the Affiliated Foreign Group
SCHEDULE B2 — Direct Insurance Transactions with Foreign Parent(s) and Other
Members of the Affiliated Foreign Group
BEA
USE
ONLY
Country
42000
Transaction Type 5:
Premiums earned
from direct insurance
sold to
Transaction Type 7:
Receipts for auxiliary
insurance services
Transaction Type 8:
Payments for auxiliary
insurance services
Mil.
2
Thou.
Dols. Bil.
3
Mil.
Thou.
Dols. Bil.
4
Mil.
Thou.
Dols. Bil.
5
Mil.
Thou.
Dols.
Transaction Type 2:
Losses incurred on
reinsurance assumed
from
Transaction Type 3:
Premiums paid for
reinsurance ceded to
Transaction Type 4:
Losses recovered on
reinsurance ceded to
Foreign parent(s) and other members of the affiliated foreign group
Mil.
2
Thou.
Dols. Bil.
3
Mil.
Thou.
Dols. Bil.
4
Mil.
Thou.
Dols. Bil.
5
Mil.
Thou.
Dols.
6
001
000
000
000
000
000
1 TOTAL - Sum of Items 2
through 33.
2
002
000
000
000
000
000
000
3
003
000
000
000
000
000
000
000
4
004
000
000
000
000
000
000
000
5
005
000
000
000
000
000
6
006
000
000
000
000
000
000
000
000
000
000
000
002
000
000
000
3
003
000
000
4
004
000
5
005
000
000
32000
1
001
006
Transaction Type 1:
Premiums earned on
reinsurance assumed
from
Bil.
6
1 TOTAL - Sum of Items 2
through 33.
2
6
BEA
USE
ONLY
Country
Foreign parent(s) and other members of the affiliated foreign group
Bil.
1
Transaction Type 6:
Losses incurred
on direct insurance
sold to
000
000
7
007
000
000
000
000
7
007
000
8
008
000
000
000
000
8
008
000
000
000
000
9
009
000
000
000
000
9
009
000
000
000
000
10
010
000
000
000
000
10
010
000
000
000
000
11
011
000
000
000
000
11
011
000
000
000
000
12
012
000
000
000
000
12
012
000
000
000
000
13
013
000
000
000
000
13
013
000
000
000
000
000
14
014
000
000
000
000
000
000
000
14
000
014
000
000
15
015
000
000
000
000
15
015
000
16
016
000
000
000
000
16
016
000
000
000
000
17
017
000
000
000
000
17
017
000
000
000
000
18
018
000
000
000
000
18
018
000
000
000
000
19
019
000
000
000
000
19
019
000
000
000
000
20
020
000
000
000
000
20
020
000
000
000
000
21
021
000
000
000
000
21
021
000
000
000
000
000
22
022
000
000
000
000
000
000
000
22
000
022
000
000
23
023
000
000
000
000
23
023
000
24
024
000
000
000
000
24
024
000
000
000
000
25
025
000
000
000
000
25
025
000
000
000
000
26
026
000
000
000
000
26
026
000
000
000
000
27
027
000
000
000
000
27
027
000
000
000
000
28
028
000
000
000
000
28
028
000
000
000
000
29
029
000
000
000
000
29
029
000
000
000
000
30
030
000
000
000
000
30
030
000
000
000
000
31
031
000
000
000
000
31
031
000
000
000
000
32
032
000
000
000
000
32
032
000
000
000
000
33
033
000
000
000
000
33
033
000
000
000
000
More than one copy of this sheet can be used when necessary.
More than one copy of this sheet can be used when necessary.
FORM BE-140 (REV. 1/2014)
www.bea.gov
Page 10
Page 7
www.bea.gov
FORM BE-140 (REV. 1/2014)
SCHEDULE B3 — Direct Insurance Transactions
with Unaffiliated Foreign Persons
SCHEDULE A1 — Reinsurance Transactions with Foreign Affiliates
BEA
USE
ONLY
Country
Transaction Type 1:
Premiums earned on
reinsurance assumed
from
1
Transaction Type 3:
Premiums paid for
reinsurance ceded to
Transaction Type 4:
Losses recovered on
reinsurance ceded to
BEA
USE
ONLY
Country
Foreign Affiliates
Bil.
31000
Transaction Type 2:
Losses incurred on
reinsurance assumed
from
Mil.
2
Thou.
Dols. Bil.
3
Mil.
Thou.
Dols. Bil.
4
Mil.
Thou.
Dols. Bil.
5
Mil.
Thou.
Dols.
43000
1
001
000
000
000
000
2
002
000
000
000
000
3
003
000
000
000
4
004
000
000
5
005
000
6
006
000
7
Transaction Type 6:
Losses incurred on
primary insurance
sold to
Transaction Type 7:
Receipts for auxiliary
insurance services
Transaction Type 8:
Payments for auxiliary
insurance services
Unaffiliated foreign persons
Bil.
6
1 TOTAL - Sum of Items 2
through 33.
Transaction Type 5:
Premiums earned
from primary
insurance sold to
Mil.
2
Thou.
Dols. Bil.
3
Mil.
Thou.
Dols. Bil.
4
Mil.
Thou.
Dols. Bil.
5
Mil.
Thou.
Dols.
6
1 TOTAL - Sum of Items 2
through 33.
2
001
000
000
000
000
002
000
000
000
000
000
3
003
000
000
000
000
000
000
4
004
000
000
000
000
000
000
000
5
005
000
000
000
000
000
000
000
6
006
000
000
000
000
007
000
000
000
000
7
007
000
000
000
000
8
008
000
000
000
000
8
008
000
000
000
000
9
009
000
000
000
000
9
009
000
000
000
000
10
010
000
000
000
000
10
010
000
000
000
000
11
011
000
000
000
000
11
011
000
000
000
000
12
012
000
000
000
000
12
012
000
000
000
000
13
013
000
000
000
000
13
013
000
000
000
000
014
000
000
000
000
14
014
000
000
000
000
15
015
000
000
000
000
15
015
000
000
000
000
16
016
000
000
000
000
16
016
000
000
000
000
17
017
000
000
000
000
17
017
000
000
000
000
18
018
000
000
000
000
18
018
000
000
000
000
19
019
000
000
000
000
19
019
000
000
000
000
20
020
000
000
000
000
20
020
000
000
000
000
21
021
000
000
000
000
21
021
000
000
000
000
22
022
000
000
000
000
22
022
000
000
000
000
23
023
000
000
000
000
23
023
000
000
000
000
24
024
000
000
000
000
24
024
000
000
000
000
25
025
000
000
000
000
25
025
000
000
000
000
26
026
000
000
000
000
26
026
000
000
000
000
27
027
000
000
000
000
27
027
000
000
000
000
28
028
000
000
000
000
28
028
000
000
000
000
29
029
000
000
000
000
29
029
000
000
000
000
30
030
000
000
000
000
30
030
000
000
000
000
31
031
000
000
000
000
31
031
000
000
000
000
32
032
000
000
000
000
32
032
000
000
000
000
33
033
000
000
000
000
33
033
000
000
000
000
14
More than one copy of this sheet can be used when necessary.
FORM BE-140 (REV. 1/2014)
www.bea.gov
More than one copy of this sheet can be used when necessary.
Page 6
Page 11
www.bea.gov
FORM BE-140 (REV. 1/2014)
SCHEDULE C — Characteristics of the Large, Infrequent Reinsurance Transactions
Identified in Question 2-4 .
3-1 The country transaction details of the U.S. reporter in the 2013 calendar year for: (1) reinsurance
transactions represented by transaction type codes 1 though 4 in the table of Question 2-1
should be reported in Schedule A, and (2) primary insurance transactions represented by
transaction type codes 5 though 8 in the table of Question 2-1 should be reported in Schedule B.
Transaction ID: ____________ (the transaction ID number (1-10) from Question 2-4 )
C-1 Is this transaction associated with a new or an existing contract? Mark (X) one.
50001
1
New Contract
2
Existing Contract
3-2 The country transaction details of the U.S. reporter should be reported separately based on the
U.S. reporter’s relationship with the foreign transactors: (1) Foreign affiliates, (2) Foreign
parent(s) and other members of the affiliated foreign group, and (3) Unaffiliated foreign persons.
C-2 What type of business does this contract reinsure? Mark (X) one.
50002
1
Life insurance (including Annuity)
2
Other, explain in Question C-11 below
3-3 Check the schedules below that are applicable to your company for reporting country transaction
details between the U.S. reporter and foreign persons:
C-3 Is the transaction assumed or ceded? Mark (X) one.
50003
1
Assumed
2
Ceded
C-4 What is the contract type? Mark (X) one.
50004
30001
1
Yearly Renewable Term (YRT)
4
Catastrophic (CAT)
2
Coinsurance
5
Other, explain in Question C-11 below
3
Modified coinsurance
30002
30003
C-5 How much reserve adjustment is associated with this transaction? Answer $0 if none.
50005
Bil.
Mil.
Thou.
$
Part 3. Instructions For Reporting Transactions By Country
30004
Dols.
30005
00 0
30006
C-6 What is the average annual premium for this contract? Estimate if necessary.
50006
Bil.
Mil.
Thou.
$
Check
Schedule
Transaction
Type Code
Foreign affiliation
■
■
■
■
■
Schedule A1
1 though 4
Foreign affiliates
Schedule A2
1 though 4
Foreign parent(s) and other members of the affiliated foreign group
Schedule A3
1 though 4
Unaffiliated foreign persons
Schedule B1
5 though 8
Schedule B2
5 though 8
Foreign parent(s) and other members of the affiliated foreign group
■
Schedule B3
5 though 8
Unaffiliated foreign persons
Foreign affiliates
Dols.
000
3-4 Report amounts in U.S. dollars rounded to thousands (omitting 000). If actual
data are not available, provide your best estimate.
C-7 In which country is the foreign entity in this transaction located? Select one.
Bil.
50007
Example: report $1,033,624 as
$
C-8 What is your company’s affiliation with the foreign entity? Mark (X) one.
50008
1
Foreign affiliates
2
Foreign parents(s) and other members of the affiliated foreign group
3
Unaffiliated foreign persons
Mil.
1
Thou.
Dols.
0 3 4
0 00
C-9 Is this a short duration or long duration contract? Mark (X) one.
50009
1
Short duration, prospective
2
Short duration, retroactive
3
Long duration
C-10 What is the reinsurance percentage (0-100) assumed from or ceded to a foreign entity in this contract?
50010
%
C-11 Provide additional information regarding this transaction, such as comments from statutory reports
and who the contract was assumed from or ceded to, in the space below.
50011
FORM BE-140 (REV. 1/2014)
www.bea.gov
Page 12
Page 5
www.bea.gov
FORM BE-140 (REV. 1/2014)
GENERAL INSTRUCTIONS
2-4 If the answer to Question 2-3 is “Yes”, enter the amount of premium for each large, infrequent
transaction during the survey period in the table below:
Premium
Transaction ID
Bil.
Example
24001
24002
24003
24004
24005
24006
24007
24008
24009
24010
Public reporting burden for this BE-140 report is estimated to
average 8 hours per response. This burden includes time for
reviewing instructions, searching existing data sources, gathering
and maintaining the data needed, and completing and reviewing
the collection of information. Send comments regarding this burden
estimate to Director, Bureau of Economic Analysis (BE-1), U.S.
Department of Commerce, Washington, DC 20230; and to the Office
of Management and Budget, Paperwork Reduction Project 06080073, Washington, DC 20503.
$ 5,
1.
Mil.
Thou.
Dols.
452,
564
000
$
000
2.
$
000
3.
$
000
4.
$
000
5.
$
000
6.
$
000
7.
$
000
8.
$
000
9.
$
000
10.
$
000
Purpose — The 2013 Benchmark Survey of Insurance Transactions
by U.S. Insurance Companies with Foreign Persons is conducted
by the Department of Commerce to obtain data on the size and
economic significance of these transactions. The information
collected will be used to help support U.S. international economic
policy and to analyze the impact of that policy and the policies of
foreign countries on international trade in services. The data will also
be used to compile the U.S. international transactions and national
income and product accounts.
Authority — This survey is being conducted under the authority
of the International Investment and Trade in Services Survey Act
(P.L. 94-472, 90 Stat. 2059, 22 U.S.C. 3101-3108, as amended –
hereinafter “the Act”), and the filing of reports is mandatory under
section 5(b)(2) of the Act (22 U.S.C. 3104). Regulations for the
survey may be found in 15 CFR Part 801.
Penalties — Whoever fails to report may be subject to a civil
penalty of not less than $2,500, and not more than $25,000, and
to injunctive relief commanding such person to comply, or both.
The civil penalties are subject to inflationary adjustments. Those
adjustments are found in 15 CFR 6.4. Whoever willfully fails to report
shall be fined not more than $10,000 and, if an individual, may be
imprisoned for not more than one year, or both. Any officer, director,
employee, or agent of any corporation who knowingly participates
in such violations, upon conviction, may be punished by a like fine,
imprisonment, or both. (See 22 U.S.C. 3105.) Notwithstanding the
above, a U.S. person is not subject to any penalty for failure to report
if a valid Office of Management and Budget (OMB) control number is
not displayed on the form; such a number (0608-0073) is displayed at
the top of the first page of this form.
2-5 For each transaction ID with non-zero premium in the table above, fill out one sheet of
Schedule C with information about the characteristics of the transaction. Make sure that you
provide the corresponding Transaction ID from Question 2-4 for each sheet of Schedule C.
2-6 Provide comments regarding the items reported on this survey in the space below, and then
continue to Part 3.
Confidentiality — The Act provides that your report to this Bureau
is CONFIDENTIAL and may be used only for analytical and statistical
purposes. Without your prior written permission, the information filed
in your report CANNOT be presented in a manner that allows it to be
individually identified. Your report CANNOT be used for purposes of
taxation, investigation, or regulation. Copies retained in your files are
immune from legal process.
I. WHO IS TO REPORT AND GENERAL COVERAGE
A. Who must report
1. Form BE-140 is to be filed by U.S. insurance companies
that have engaged in reinsurance transactions with foreign
persons, that have earned premiums from, or incurred losses
to, foreign persons in the capacity of direct insurers, or that
have engaged in international sale or purchase transactions
in services auxiliary to insurance.
2. Responses through Question 2-2 are mandatory regardless
of the transaction sizes.
3. If, with respect to these transactions, any of the following eight
transaction types reported in Question 2-1 was greater than
positive $2,000,000 or less than negative $2,000,000 for the
2013 calendar year, on an accrual basis, then responses to
FORM BE-140 (REV. 1/2014)
www.bea.gov
Page 4
Page 13
all of the remaining questions are mandatory: (1) premiums
earned on reinsurance assumed, and (2) losses incurred
on reinsurance assumed; (3) premiums paid for reinsurance
ceded, and (4) losses recovered on reinsurance ceded;
(5) premiums earned from direct insurance, and (6) losses
incurred on direct insurance; (7) Receipts for auxiliary
insurance services, and (8) Payments for auxiliary insurance
services.
4. If, however, all of the amounts reported in Question 2-1 were
less than $2,000,000 and greater than negative $2,000,000,
then responses to all the remaining questions are voluntary.
B. Transactions involving a broker — At times, insurance
transactions between a U.S. person and a foreign person may
be arranged by, billed through, or otherwise facilitated by, a
broker, agent, or intermediary. In order to avoid duplication, the
data should be reported by the insurance company assuming
the risk or recovering or paying the loss. Brokers, agents, and
intermediaries are generally not to report.
II. WHAT TO REPORT
A. Report transactions with affiliated foreign persons as well as
with unaffiliated foreign persons (see Definitions IV.J and
K). Please file the appropriate schedules to report
transactions with (1) your foreign affiliates, (2) your
foreign parent(s), and other members of the affiliated
foreign group, and (3) unaffiliated foreign persons.
B. Report transactions with alien insurance groups, whether or
not funds remitted to and from these organizations are cleared
through their American Trust Funds.
C. Note that the criterion for reporting is whether the transaction
is between a U.S. person and a foreign person. It is immaterial
whether the assets insured are located in the United States or
abroad.
D. Report transactions with U.S. affiliates of foreign firms for the
account of their foreign parent firm. (Report them on
the schedule covering your transactions with unaffiliated foreign
persons.)
E. Report transactions with foreign persons made by your foreign
affiliate for your account. (Report them on the schedule
covering your transactions with unaffiliated foreign persons.)
III. WHAT NOT TO REPORT
A. Do not report transactions with U.S. affiliates of foreign firms
for their own account. Transactions with these U.S. affiliates are
considered domestic-to-domestic for purposes of this survey.
B. Do not report transactions with foreign persons made by your
foreign affiliates for their own account.
C. Do not report premiums to, or losses from, foreign insurance
companies on direct insurance. Premiums on such insurance
purchased from foreign insurance companies are to be reported
on Form BE-120, Benchmark Survey of Transactions in Selected
Services and Intellectual Property with Foreign Persons, and
on Form BE-125, Quarterly Survey of Transactions in Selected
Services and Intellectual Property with Foreign Persons. Copies
of these surveys can be downloaded from BEA’s web site at
http://www.bea.gov/surveys/iussurv.htm.
www.bea.gov
FORM BE-140 (REV. 1/2014)
GENERAL INSTRUCTIONS — Continued
IV. DEFINITIONS
A. Insurance Companies, for purposes of this survey, includes
insurance carriers of all types, and groups of such companies.
B. United States, when used in a geographic sense, means the
several states, the District of Columbia, the Commonwealth of
Puerto Rico, and all the territories and possessions of the United
States. NOTE: The U.S. Virgin Islands and Guam are territories
of the United States.
C. Foreign, when used in a geographic sense, means that which
is situated outside the United States or which belongs to or is
characteristic of a country other than the United States.
D. Person means any individual, branch, partnership, associated
group, association, estate, trust, corporation, or other
organization (whether or not organized under the laws of any
State), and any government (including a foreign government, the
U.S. Government, a State or local government, and any agency,
corporation, financial institution, or other entity or instrumentality
thereof, including a government sponsored agency).
1. United States person means any person resident in
the United States or subject to the jurisdiction of the United
States.
2. Foreign person means any person resident outside the
United States or subject to the jurisdiction of a country other
than the United States.
E. Business enterprise means any organization, association,
branch, or venture which exists for profitmaking purposes or to
otherwise secure economic advantage, and any ownership of
any real estate. (A business enterprise is a “person” within the
definition in paragraph D above.)
F. Direct investment means the ownership or control, directly
or indirectly, by one person of 10 per cent or more of the voting
stock of an incorporated business enterprise, or an equivalent
ownership interest in an unincorporated business enterprise.
G. Parent means a person of one country who, directly or indirectly,
owns or controls 10 per cent or more of the voting stock of an
incorporated business enterprise or an equivalent ownership
interest in an unincorporated business enterprise, which is
located outside that country.
1. U.S. parent means the U.S. person that has direct
investment in a foreign business enterprise.
2. Foreign parent means the foreign person, or the first
person outside the United States in a foreign chain of
ownership, which has direct investment in a U.S. business
enterprise, including a branch.
H. Affiliated foreign group means (i) the foreign parent, (ii) any
foreign person, proceeding up the foreign parent’s ownership
chain, which owns more than 50 per cent of the person below
it up to and including that person which is not owned more
than 50 per cent by another foreign person, and (iii) any foreign
person, proceeding down the ownership chain(s) of each of these
members that is owned more than 50 per cent by the person
above it.
I. Affiliate means a business enterprise located in one country
that is directly or indirectly owned or controlled by a person of
another country to the extent of 10 per cent or more of its voting
stock for an incorporated business or an equivalent interest for an
unincorporated business, including a branch.
FORM BE-140 (REV. 1/2014)
Part 2. Total Premiums and Losses and Reporting Status
1. Foreign affiliate means an affiliate located outside the
United States in which a U.S. person has direct investment.
2. U.S. affiliate means an affiliate located in the United States
in which a foreign person has direct investment.
2-1 Report the total amount of transactions for the following types of insurance services between the
U.S. reporter and foreign persons during the 2013 calendar year.
(A foreign person refers to an individual or entity resident outside of the U.S. or subject to the jurisdiction of a country
other than the U.S., regardless of whether it is affiliated with the U.S. reporter. Transactions of the foreign affiliates of
the U.S. reporter should not be included unless the transactions are with the U.S. reporter.)
3. Foreign affiliate of a foreign parent means, with
reference to a given U.S. affiliate, any member of the affiliated
foreign group owning the U.S. affiliate that is not a foreign
parent of the U.S. affiliate.
J. Affiliated foreign person means, with respect to a given U.S.
person, (i) a foreign affiliate of which the U.S. person is a U.S.
parent, or (ii) the foreign parent or other member of the affiliated
foreign group of which the U.S. person is a U.S. affiliate.
K. Unaffiliated foreign person means, with respect to a given
U.S. person, any foreign person that is not an affiliated foreign
person as defined in paragraph J above.
L. Country means the country of location of the foreign person
with whom a transaction has occurred.
(See Section VI of the General Instructions for detailed instructions on calculating the amount of each transaction
type in the table below.)
Transaction
type code
Bil.
21001
21002
21003
V. REPORTING PROCEDURES
A. Due date — A completed BE-140 is due June 30,
2014.
B. Calendar year — You must report on a calendar year basis.
C. Extension — For the efficient processing of the survey and
timely dissemination of the results, it is important that your report
be filed by the due date. Nevertheless, reasonable requests for
extension of the reporting deadline will be granted. Requests
for an extension of more than 30 days MUST be in writing
and should explain the basis for the request. You may request
an extension via email at [email protected] or fax the
request to (202) 606-5318. All requests for extension must be
received NO LATER THAN the due date of the report.
D. For assistance or additional copies of the forms —
Phone (202)606-5588 between 8:30 a.m. and 5:00 p.m. eastern
time. Copies of our forms are also available on BEA’s web page:
www.bea.gov/bea/surveys/iussurv.htm
E. Response required — If you received this form directly from
BEA, a response is required, by completing Parts I, II, and III, and
the appropriate schedule, if required, and returning the form to
BEA by June 30, 2014.
F. Rounding — Report currency amounts in U.S. dollars rounded
to thousands (omitting 000). For example, if the amount is
$1,334,515.00, report it as $1,335.
G. Estimates — If actual figures are not available, report
estimates and label them as such. When data items cannot
be fully subdivided as required, report totals and an estimated
breakdown of the totals.
Amount
Transaction Type
21004
21005
21006
21007
21008
Mil.
Schedules for
country details
Thou.
Dols.
1.
Premiums earned on reinsurance assumed from
companies resident abroad
$
000
Schedule A
2.
Losses incurred on reinsurance assumed from
companies resident abroad
$
000
Schedule A
3.
Premiums paid for reinsurance ceded to companies
resident abroad
$
000
Schedule A
4.
Losses recovered on reinsurance ceded to companies
$
resident abroad
000
Schedule A
5.
Premiums earned from direct insurance sold to foreign
$
persons
000
Schedule B
6.
Losses incurred on direct insurance sold to foreign
persons
$
000
Schedule B
7.
Receipts for auxiliary insurance services provided to
foreign persons
$
000
Schedule B
8.
Payments for auxiliary insurance services provided by
foreign persons
$
000
Schedule B
2-2 Was the total amount for any of the transaction types 1 through 8 in Question 2-1 greater than
positive $2 million or less than negative $2 million for the 2013 calendar year?
22000
1
Yes
Go to the next question.
2
No
Stop here and return the first 3 pages of the survey according to the instructions on
page 1.
2-3 Did your company have any large, infrequent reinsurance transactions in 2013, defined as
those contracts with premiums assumed or ceded in excess of $1 billion more than the
size of your average regular contracts in 2012 (This includes new contracts in excess of $1
billion)? Mark (X) one.
23000
1
Yes
Go to the next question.
2
No
Go to Question 2-6 .
H. Original and file copies — A single original copy of the form
must be filed with BEA if filing by mail. Please use the copy with
the address label if such a labeled copy has been provided. In
addition, each U.S. reporter must retain a copy of its form for
three years to facilitate resolution of problems.
www.bea.gov
Page 14
Page 3
www.bea.gov
FORM BE-140 (REV. 1/2014)
GENERAL INSTRUCTIONS — Continued
Part 1. U.S. Reporter Information – Continued
1-4 Check the Industry Classification below that best describes the U.S. Reporter.
10013
1
5242 - Agencies, brokerages, and other insurance related activities
2
5243 - Insurance carriers, except life insurance carriers
3
5249 - Life insurance carriers
A. For property and casualty insurance companies
Premiums written during 2013, plus unearned premiums
at the beginning of 2013, minus unearned premiums at the
end of 2013. Report premiums net of cancellations. Report
premiums gross of commissions and profit commissions paid
to or received from foreign persons, including commissions
initially paid to or received from a U.S. intermediary (agent or
broker) of a foreign person.
10014
2. Calculate Transaction Type 2, Losses incurred on reinsurance
assumed:
1-6 Check the box that best describes the operating status of your company during the 2013 calendar year.
10015
1
In existence the entire reporting period – Skip Question 1-7 .
2
In existence during only part of the reporting period – Continue filling out this form for the portion of the reporting
period in which your company was in existence and, in the comments section on page 4, explain why your company
did not exist for a part of the period.
3
Not in existence during the reporting period – Please return form according to the instructions on page 1.
Losses paid during 2013, plus case reserves at the end of
2013, plus losses incurred but not reported at the end of
2013, minus case reserves at the beginning of 2013, minus
losses incurred but not reported at the beginning of 2013.
Losses paid should not include loss adjustment expenses
(reportable on Schedule B as auxiliary insurance services).
1
No – Continue with completion of the form.
2
Yes – Enter the name and address of the U.S. person or entity in the box and please return this form according to
the “How to file” instructions on page 1.
Premiums ceded during 2013, plus unearned premiums at
the beginning of 2013, minus unearned premiums at the
end of 2013. Report premiums net of cancellations. Report
premiums gross of commissions and profit commissions paid
to or received from foreign persons, including commissions
initially paid to or received from a U.S. intermediary (agent or
broker) of a foreign person.
Losses recovered during 2013, plus case reserves at the
end of 2013, plus losses incurred but not reported at the
end of 2013, minus case reserves at the beginning of 2013,
minus losses incurred but not reported at the beginning of
2013. Losses recovered should not include loss adjustment
expenses (reportable on Schedule B as auxiliary insurance
services).
Contact
Phone
Street
1
2
3
City
State
Zip Code
2
Property and casualty insurance
3
Other — Specify
Premiums written during 2013, plus unearned premiums
at the beginning of 2013, minus unearned premiums at the
end of 2013. Report premiums net of cancellations. Report
premiums gross of commissions and profit commissions paid
to or received from foreign persons, including commissions
initially paid to or received from a U.S. intermediary (agent or
broker) of a foreign person.
6. Calculate Transaction Type 6, Losses incurred on direct
insurance:
1-9 What best describes your organization?
10018
1
Insurance Company
2
Insurance Broker
3
Insurance Group - Please attach a list of member companies that are consolidated in this report (enter in the
comment box on Page 4).
FORM BE-140 (REV. 1/2014)
Losses incurred reflect policy claims on reinsurance assumed,
adjusted for changes in claims due, unpaid, and in the course
of settlement.
3. Calculate Transaction Type 3, Premiums paid for reinsurance
ceded:
Premiums paid reflect premiums accrued on reinsurance
ceded to insurance companies resident abroad. These
amounts, therefore, are adjusted for changes in due, deferred,
and advanced premiums for each year. Report premiums
gross of commissions and profit commissions paid to or
received from foreign persons, including commissions initially
paid to or received from a U.S. intermediary (agent or broker)
of a foreign person.
4. Calculate Transaction Type 4, Losses recovered on
reinsurance ceded:
Losses recovered reflect policy claims on reinsurance ceded,
adjusted for changes in claims due, unpaid, and in the course
of settlement.
www.bea.gov
5. Calculate Transaction Type 5, Premiums earned from direct
insurance:
Report premiums earned. These amounts should be adjusted
for changes in due, deferred, and advanced premiums for
2013. Report premiums gross of commissions and profit
commissions paid to foreign persons, including commissions
initially paid to a U.S. intermediary (agent or broker) of a
foreign person.
5. Calculate Transaction Type 5, Premiums earned from direct
insurance:
1-8 What is your principal line of insurance?
Life insurance
2. Calculate Transaction Type 2, Losses incurred on reinsurance
assumed:
4. Calculate Transaction Type 4, Losses recovered on
reinsurance ceded:
Company name
1
Premiums earned reflect premiums accrued on reinsurance
assumed from insurance companies resident abroad. These
amounts, therefore, are adjusted for changes in due, deferred,
and advanced premiums for each year. Report premiums
gross of commissions and profit commissions paid to or
received from foreign persons, including commissions initially
paid to or received from a U.S. intermediary (agent or broker)
of a foreign person.
3. Calculate Transaction Type 3, Premiums paid for reinsurance
ceded:
1-7 Was your company owned to the extent of more than 50 percent by another U.S. company at any point
during the 2013 calendar year?
10017
1. Calculate Transaction Type 1, Premiums earned on
reinsurance assumed:
1. Calculate Transaction Type 1, Premiums earned on
reinsurance assumed:
1-5 What is the primary Employer Identification Number used by the U.S. Reporter to file U.S. income or
payroll taxes?
10016
B. For life insurance companies
VI. SPECIFIC ITEM INSTRUCTIONS
Losses paid during 2013, plus case reserves at the end of
2013, plus losses incurred but not reported at the end of
2013, minus case reserves at the beginning of 2013, minus
losses incurred but not reported at the beginning of 2013.
Losses paid should not include loss adjustment expenses
(reportable under Transaction Type 8, Payments for auxiliary
insurance services).
Page 2
Page 15
6. Calculate Transaction Type 6, Losses incurred on direct
insurance:
Losses incurred reflect policy claims on direct insurance
assumed, adjusted for changes in claims due, unpaid, and in
the course of settlement.
C. Calculate Transaction Types 7 and 8: Auxiliary
insurance services
Include agent commissions, insurance brokering and agency
services, insurance consulting services, evaluation, allocated loss
adjustment expenses, and other adjustment services, actuarial
services, salvage administration services, and regulatory and
monitoring services on indemnities and recovery service.
www.bea.gov
FORM BE-140 (REV. 1/2014)
OMB No. 0608-0073: Approval Expires 02/28/2017
BEA USE ONLY
Control number
2013 BENCHMARK SURVEY OF INSURANCE TRANSACTIONS BY U.S.
INSURANCE COMPANIES WITH FOREIGN PERSONS
FORM BE-140
(This report is mandatory and confidential. See General Instructions)
(REV. 1/2014)
Name and address of U.S. Reporter Enter or correct as necessary
10001
Company name
10002
Contact
10003
Street
10004
City
10005
10006
State
Zip Code
Complete and file this form electronically at http://www.bea.gov/efile, or by other means (see below).
Assistance is available at (202) 606-5588, M-F 8:30 A.M. – 5:00 P.M., eastern time.
How to file:
Step 1. Verify or correct name and address of the U.S. reporter named in the mailing label and complete Questions 1-1 to 2-2 .
Step 2. Complete Questions 2-3 through Schedule C based on the instructions given in Part 2.
Step 3. File the completed form by June 30, 2014.
File electronically at: http://www.bea.gov/efile
Mail to:
U.S. Department of Commerce
Bureau of Economic Analysis
BE-50(SSB)
Washington, DC 20230
Fax form to: (202) 606-5318
Deliver to:
U.S. Department of Commerce
Bureau of Economic Analysis
BE-50(SSB)
Shipping and Receiving Section M-100
1441 L Street, NW
Washington, DC 20005
E-mail to: [email protected]
Part 1. U.S. Reporter Information
1-1 Person to consult concerning questions about this
report
10007
Name
10008
Title
10009
Phone
10010
Fax
10011
Email
1-3 Certification — The undersigned official certifies that
this report has been prepared in accordance with the
applicable instructions, is complete, and is substantially
accurate except that, in accordance with Section
V.G of the General Instructions, estimates may have
been prepared where the data are not available from
customary accounting records or precise data could not
be obtained without undue burden.
Authorized official’s signature
1-2 May we use e-mail to correspond with you to discuss questions
relating to this form, including questions that may contain information
about your company that you may consider confidential? (Note:
Electronic mail is not inherently confidential. We will treat information
we receive as confidential but your e-mail is not necessarily secure
against interception by a third party.)
10012
1
Yes
2
No
Print or type name and title
Date
| File Type | application/pdf |
| File Title | BE-40_pages2-3.fm |
| Author | Xu, Mark |
| File Modified | 2014-03-11 |
| File Created | 2014-02-28 |