District of Columbia § 31-1373.12 Additional investment authority.

District of Columbia Statutes

§ 31-1373.12 — Additional investment authority.

District of Columbia § 31-1373.12

Title 31Insurance and Securities.

Ch. 13AInvestments of Insurers.

Subch. IIIFire, Casualty, and Marine Insurers.

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Bluebook

D.C. Code § 31-1373.12 (2026).

Text

(a)An insurer may acquire under this section investments, or engage in investment practices, of any kind that are not specifically prohibited by this chapter or engage in investment practices without regard to any limitation in §§ 31-1373.03 through 31-1373.10 ; provided, that an insurer shall not acquire an investment or engage in an investment practice under this section if, as a result of and after giving effect to the transaction, the aggregate amount of the investments held by the insurer under this section would exceed the greater of:

(1)Its unrestricted surplus; or

(2)The lesser of:

(A)Ten percent of its admitted assets; or

(B)Fifty percent of its surplus as regards policyholders.

(b)An insurer shall not acquire any investment or engage in any investment pract

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(a) An insurer may acquire under this section investments, or engage in investment practices, of any kind that are not specifically prohibited by this chapter or engage in investment practices without regard to any limitation in §§ 31-1373.03 through 31-1373.10 ; provided, that an insurer shall not acquire an investment or engage in an investment practice under this section if, as a result of and after giving effect to the transaction, the aggregate amount of the investments held by the insurer under this section would exceed the greater of:

(1) Its unrestricted surplus; or

(2) The lesser of:

(A) Ten percent of its admitted assets; or

(B) Fifty percent of its surplus as regards policyholders.

(b) An insurer shall not acquire any investment or engage in any investment practice under subsection (a)(2) of this section if, as a result of and after giving effect to the transaction the aggregate amount of all investments in any one person held by the insurer under that subsection would exceed 5% of its admitted assets.