This article sets forth requirements for qualifying as a Category 1 investment. If an investment or portion thereof does not comply either with this article or Article 3 (§ 38.2-1443 et seq.) of this chapter, then that investment or portion of it shall be classified as a Category 2 investment or a prohibited investment, as […]
A. No domestic insurer shall have at any one time any combination of investments in or loans upon the security of the property and securities of any one obligor or issuer aggregating an amount exceeding the lesser of five percent of the insurer’s total admitted assets or twenty percent of the insurer’s surplus to policyholders. […]
A. The portion of a domestic insurer’s total admitted assets in the following types of investments shall not exceed: 1. Ten percent for the aggregate of investments made eligible by §§ 38.2-1416 and 38.2-1417; 2. Five percent for the investments in each agency made eligible by § 38.2-1418, and 10 percent for the aggregate of […]
A. United States obligations. A domestic insurer may invest in any bonds, notes, warrants, and other evidences of indebtedness which are direct obligations of the United States or for which the full faith and credit of the United States are pledged for the payment of principal and interest. B. United States agencies obligations. A domestic […]
A. Obligations of Canada. — A domestic insurer may invest in bonds, notes, warrants, and other evidences of indebtedness which are direct obligations of the government of Canada or for which the full faith and credit of the government of Canada are pledged for the payment of principal and interest. B. No domestic insurer shall […]
A domestic insurer may invest in obligations issued, assumed or guaranteed by any solvent corporation created or existing under the laws of Canada, or any province of Canada. However, those obligations shall meet the standards specified in § 38.2-1421 for obligations of any business entity created or existing under the laws of the United States […]
A domestic insurer may invest in valid and legally authorized high grade obligations issued, assumed or guaranteed by an international development bank of which the United States is a member. 1983, c. 457, § 38.1-217.21; 1985, c. 370; 1986, c. 562; 1992, c. 588.
A domestic insurer may invest in obligations secured by first mortgages, first deeds of trust or other similar liens upon terminal, depot or tunnel property, including lands, buildings and appurtenances, used in the service of transportation by one or more railroad corporations whose obligations are eligible as investments under § 38.2-1421. However, these obligations shall […]
A domestic insurer may invest in adequately secured equipment trust certificates or other adequately secured instruments evidencing (i) an interest in transportation equipment wholly or partly within the United States and (ii) a right to receive determined portions of rental, purchase or other fixed obligatory payments for the use or purchase of the transportation equipment. […]
A. High grade. A domestic insurer may invest in any high grade obligations issued, assumed or guaranteed by any solvent business entity that is not in default as to principal or interest on the date of investment and which is created or existing under the laws of the United States or any state. B. Medium […]
A. A domestic insurer may invest in obligations of any solvent company other than companies referred to in § 38.2-1419, incorporated under the laws of the United States or of any state if: 1. The obligations are secured by an assignment to the insurer of a lease, and the rents payable under the lease, of […]
A domestic insurer may invest in preferred stocks of any company incorporated under the laws of the United States or any state if: 1. a. The preferred stock under consideration is not in arrears as to dividends if cumulative, or b. Full dividends on the preferred stock under consideration have been paid in the last […]
A domestic insurer may invest in stocks guaranteed by a solvent company incorporated under the laws of the United States or of any state if for the past three years the guarantor’s net earnings available for meeting fixed charges is at least 1 1/4 times the sum of (i) the fixed charges of the guarantor […]
A. A domestic insurer may invest in the common capital stock of any bank or trust company that is a member of the Federal Deposit Insurance Corporation. B. No domestic insurer shall invest in more than ten percent of the actually issued and outstanding common capital stock of any one such bank or trust company. […]
If the issuing, assuming or guaranteeing business entity has not been in operation for the entire period for which earnings are being applied pursuant to § 38.2-1424, the earnings tests shall be based upon pro forma statements incorporating statements of any predecessor or constituent business entity for that portion of the earnings tests period that […]
A. A domestic insurer may invest in the common capital stock of any company incorporated under the laws of the United States or any state, if the common capital stock of the corporation is traded on a securities exchange or on an over-the-counter market regulated under the Securities Exchange Act of 1934, as amended. B. […]
A domestic insurer may become a limited partner in a partnership organized and governed under the laws of the United States or any state for the purpose of making or participating in investments otherwise permissible for domestic insurers under the provisions of this chapter. 1992, c. 588.
A domestic insurer may invest in shares of common stock or units of beneficial interest issued by any solvent business corporation or trust incorporated or organized under the laws of the United States, or of any state of the United States, under the following conditions: 1. If the issuing corporation or trust is advised by […]
A domestic insurer may invest in common stock, preferred stock, debt obligations, and other securities of a subsidiary. For investments in subsidiary corporations made prior to July 1, 1995, July 1, 1995, may be deemed the date of investment. 1992, c. 588; 1993, c. 47; 1995, c. 60.
A. A domestic insurer may engage in derivative transactions under this section subject to the following general conditions: 1. A domestic insurer may use derivative instruments under this section to engage in hedging transactions and replication transactions. 2. Each domestic insurer utilizing derivative instruments shall establish written guidelines with respect to derivative transactions stating the […]
