Iowa Admin. Code r. 191-99.6
Current through Register Vol. 47, No.14, January 8, 2025
An LPS shall not be issued a certificate of authority unless it possesses and thereafter maintains unimpaired paid-in capital and surplus of not less than $2.5 million.
The commissioner may prescribe additional tangible capital and surplus based upon the type, volume, and nature of reinsurance business transacted.
Minimum capital and surplus required by subrule 99.6(1) shall be in the form of cash or other securities that are investment grade at the time of acquisition and acceptable to the commissioner
Iowa Admin. Code r. 191-99.6