(a) An insurer other than a life insurer may invest a portion of its surplus funds in an aggregate amount not exceeding 50 percent of its surplus over its capital stock and other liabilities, or 35 percent of its capital funds, whichever is greater, in the stocks of other insurers organized and existing under the […]
(a) After satisfying the requirements of section 576 of this title, an insurer may invest any of its funds in common shares of stock in solvent United States corporations that qualify as a sound investment, except, that as to life insurers such investments shall further not aggregate an amount in excess of 50 percent of […]
An insurer may loan its funds upon the pledge of securities or evidences of debt eligible for investment under this chapter. As at date made, no such loan shall exceed in amount 90 percent of the market value of such collateral pledged, except that loans upon pledges of United States government bonds may be equal […]
(a) An insurer may loan or invest its funds in an aggregate amount not exceeding the lesser of the following sums: 5 percent of its assets, or 50 percent of its surplus over its capital and other liabilities, or if a mutual insurer 50 percent of its surplus over minimum required surplus, in kinds of […]
Upon advance approval of the Commissioner and in compliance with section 552 of this title, an insurer may make any investment or kind of investment or exchange of assets otherwise prohibited or not eligible under any other section of this chapter. The Commissioner’s order of approval if granted shall specify whether the investment or any […]
(a) An insurer shall invest and keep invested its funds aggregating in amount, if a stock insurer, not less than 100 percent of its minimum required capital, or if a mutual insurer, not less than 100 percent of its required minimum surplus, in cash or investments eligible in accordance with section 554 of this title […]
An insurer shall not invest or have invested at any one time more than 65 percent of its assets in investments in real estate, real estate contracts, and notes, bonds and other evidences of debt, secured by mortgage on real estate, as described in sections 561 and 566 of this title. Any insurer which, on […]
In addition to investments excluded under other provisions of this title, an insurer shall not, except with the Commissioner’s approval in advance, invest in or loan its funds upon the security of, or hold— (1) issued shares of its own capital stock, except for the purpose of mutualization in accordance with section 358 of this […]
No insurer shall participate in the underwriting of the marketing of securities in advance of their issuance or enter into any transaction for such underwriting for the account of such insurer jointly with any other person; or enter into any agreement to withhold from sale any of its property, or to repurchase any property sold […]
(a) Any personal property or securities lawfully acquired by an insurer, which it could not otherwise have invested in or loaned its funds upon at the time of such acquisition, shall be disposed of by the insurer within one year from date of acquisition, unless within such period the security has attained to the standard […]
Except for policy loans of a life insurer, no domestic insurer shall sell or exchange any investment or loan unless authorized or approved by its board of directors or by a committee charged by the board of directors or the bylaws with the duty of making such investment, loan, sale or exchange. The minutes of […]
(a) As to each investment or loan of the funds of a domestic insurer a written record in permanent form showing the authorization thereof shall be made and signed by an officer of the insurer or by the chairman of such committee authorizing the investment or loan. (b) As to each such investment or loan […]
The investments of a foreign or alien insurer shall be as permitted by the laws of its domicile but shall be of a quality substantially as high as those required under this chapter for similar funds of like domestic insurers.
