The Florida Office of Insurance Regulation has signed two consent orders that allow Bermuda-based reinsurers Ariel Reinsurance Co Ltd and DaVinci Reinsurance Ltd to post reduced collateral and operate in Florida as eligible reinsurers.The Consent Order with Ariel and the Consent Order with DaVinci make these companies the 15th and 16th reinsurers respectively to operate in Florida with similar terms. Fifteen of the 16 are based in Bermuda.Florida is the first state to allow ceding insurance companies to receive full credit on their financial statements for reinsurance purchased from non-US based reinsurers that are highly rated and financially sound.Ariel reported capital and surplus of $1.3 billion, which exceeds the $100 million requirement. DaVinci reported capital and surplus of $1.4 billion. The reinsurers also indicated secure financial strength by demonstrating favourable ratings from two nationally recognised statistical rating organizations.Other eligible reinsurers in Florida are: Ace Tempest Reinsurance, Allied World Assurance Co. Ltd., Alterra Bermuda Ltd., Arch Reinsurance Ltd., Aspen Insurance Ltd., Axis Specialty Ltd., Hannover Re (Bermuda), Hannover Re (Germany), Hiscox Insurance Co., Montpelier Reinsurance Ltd., Partner Reinsurance Co., Renaissance Reinsurance, Tokio Millennium Re Ltd. and XL Re Ltd.