Delaware § 6937 Investments by sponsored captive insurance companies

Delaware Statutes

§ 6937 — Investments by sponsored captive insurance companies

Delaware·Title 18·Part Insurance·Ch. 69 CAPTIVE INSURANCE COMPANIES·Subch. Sponsored Captive Insurance Companies

(a)Notwithstanding the provisions of § 6934 of this title, a sponsored captive insurance company may combine the assets of 2 or more protected cells for purposes of investing those assets. Such a combination of assets may not be construed as defeating the segregation of assets for purposes of §§ 6934 and 6938 of this title, or for accounting or other purposes. Sponsored captive insurance companies must comply with:

(1)The investment requirements contained in Chapter 13 of this title, as applicable; or

(2)Investment requirements as may be approved by the Commissioner upon application by a sponsored captive insurance company; or

(3)In the case of a sponsored captive insurance company that is also a special purpose financial captive insurance company, the investment requirements contai

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(a) Notwithstanding the provisions of § 6934 of this title, a sponsored captive insurance company may combine the assets of 2 or more protected cells for purposes of investing those assets. Such a combination of assets may not be construed as defeating the segregation of assets for purposes of §§ 6934 and 6938 of this title, or for accounting or other purposes. Sponsored captive insurance companies must comply with:

(1) The investment requirements contained in Chapter 13 of this title, as applicable; or

(2) Investment requirements as may be approved by the Commissioner upon application by a sponsored captive insurance company; or

(3) In the case of a sponsored captive insurance company that is also a special purpose financial captive insurance company, the investment requirements contained in § 6910(b) of this title.

(b) Compliance with the investment requirements set forth in paragraphs (a)(1) and (a)(2) of this section must be waived for sponsored captive insurance companies to the extent that credit for reinsurance ceded to reinsurers is allowed pursuant to § 6911 of this title or to the extent otherwise considered reasonable and appropriate by the Commissioner.

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