Iowa HF2766 revises regulations for life captive reinsurance companies, including capital requirements, reporting, and operational restrictions.

Iowa HF2766 establishes regulations for life captive reinsurance companies (LCRCs) in Iowa. It mandates that LCRCs must maintain a minimum of $5 million in unimpaired paid-in capital and surplus, with the commissioner's approval. LCRCs must submit annual reports, including financial statements and actuarial opinions, to the commissioner. They are restricted from making loans or investments without prior written approval and from writing insurance business unless they comply with the bill's requirements.

Iowa HF2766 revises regulations for life captive reinsurance companies, including capital requirements, reporting, and operational restrictions.

Iowa HF2766 establishes regulations for life captive reinsurance companies (LCRCs) in Iowa. It mandates that LCRCs must maintain a minimum of $5 million in unimpaired paid-in capital and surplus, with the commissioner's approval. LCRCs must submit annual reports, including financial statements and actuarial opinions, to the commissioner. They are restricted from making loans or investments without prior written approval and from writing insurance business unless they comply with the bill's requirements.