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Panel advances bill to give property-casualty insurers same foreign-investment cap as life insurers
2288188 · February 7, 2025
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Summary
House Bill 161 would raise the permitted foreign-company investment cap for property and casualty insurers from 1% to 20%, matching the allowance for life insurers; the subcommittee approved the bill and sent it to the full Insurance Committee.
Chairman McCallum presented House Bill 161 to the Insurance Subcommittee on Wednesday, Feb. 12, proposing parity in foreign-investment allowances between life insurance companies and property-and-casualty insurers.
Chairman McCallum said life insurers currently may invest up to 20% of their holdings in foreign-owned companies, while…
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