The rule states that principal state commissioners may grant exemptions where the insurance holding company system meets all the listed criteria. This includes annual direct written and unlinked estimated premiums (including international direct and estimated premiums) of less than $1,000,000,000, excluding premiums reinsured with the Federal Crop Insurance Corporation and the Federal Flood Program; Having no insurers outside the United States or its territories; Not being a banking, depository or other financial entity subject to the identified regulatory capital framework; and certifying that there have been no significant changes in transactions between insurers and non-insurers and that the non-insurers do not pose a significant financial risk to the insurer’s ability to honor policyholder obligations. The same sub-$1,000,000,000 premium limit and related structural validations also support the rule’s provision, which allows the principal state commissioner to make a limited group capital filing in lieu of the full group capital calculation, subject to additional listed criteria.
Alabama adopts group capital calculation exemption and limited filing options & more related News Here
