What is an insurer formed according to the legal requirements of another country called?

An insurer formed according to the legal requirements of another country is called an "alien insurer." This term specifically refers to insurance companies that are established under the laws of a country other than the one in which they are operating. In the context of insurance regulations, "alien" designates a company that is recognized as foreign relative to the jurisdiction where it seeks to conduct business.

In contrast, a domestic insurer refers to a company that is incorporated and operates under the laws of the state in which it is based. A foreign insurer is typically a company that is formed in one state but operates in another state within the same country. The term "international insurer" doesn't have a specific legal standing in insurance terminology and can lead to confusion, as it might imply operations across numerous countries without a precise legal context.

Understanding these definitions helps clarify the classification of insurers based on their origin and the legal frameworks governing their operations, thus emphasizing why the term "alien insurer" correctly identifies a company formed in a different nation.