Iowa SF2446 revises regulations for captive insurance companies and life captive reinsurance companies, including capital requirements, reporting.

Iowa SF2446 introduces changes to the regulatory framework for captive insurance companies and life captive reinsurance companies. It mandates that life captive reinsurance companies (LCRCs) must maintain unimpaired paid-in capital and surplus of at least $5 million. The bill outlines specific procedures for LCRCs, including the requirement to file annual financial reports, actuarial opinions, and management reports. It also details the process for mergers and the conditions under which LCRCs can be suspended or revoked.

Iowa SF2446 revises regulations for captive insurance companies and life captive reinsurance companies, including capital requirements, reporting.

Iowa SF2446 introduces changes to the regulatory framework for captive insurance companies and life captive reinsurance companies. It mandates that life captive reinsurance companies (LCRCs) must maintain unimpaired paid-in capital and surplus of at least $5 million. The bill outlines specific procedures for LCRCs, including the requirement to file annual financial reports, actuarial opinions, and management reports. It also details the process for mergers and the conditions under which LCRCs can be suspended or revoked.