HB2145--VALUATIONOFRESERVESFORLIFEINSURANCE
SPONSOR: Murphy
Currently,theStandardValuationLawisestablishedthatrequires
Missouriinsurersprovidinglife,accidentandhealth,annuityand
pureendowment,orspecifieddepositpoliciestomeetminimum
standardsofvaluationfortheirfinancialreservesbasedonthe
valuationmanualadoptedbytheNationalAssociationofInsurance
Commissioners.
However,acompanythatislicensedanddoingbusinessinMissouri,
thathaslessthan$300millionofordinarylifepremium,may
insteadholdreservesbasedonthemortalitytablesandinterest
ratesdefinedbythevaluationmanualfornetpremiumreservesif
thecompanymeetsspecifiedrequirements.
Thisbillrepealsthatexemption.