Admitted Assets

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Admitted Assets

In the United States, assets that a state permits an insurance company to include on its balance sheet. Admitted assets vary state to state, but they must be both liquid and able to be valued; they are important to determining an insurance company's solvency in the event an unusually large number of claims are made. Admitted assets usually include mortgages, stocks, bonds and accounts receivable that the company reasonably expects to be paid.
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With an admitted asset base exceeding $10 billion, LBL will add meaningful scale to the organization.
KBRA Comments on Kuvare's Proposed Acquisition of Lincoln Benefit Life Company
On June 21, Insurance Commissioner Dennis Funa issued IC Circular Letter 2019-27, which qualifies REIT as admitted asset for insurance companies and mutual benefit associations (MBA), and allowable investment for pre-need companies.
Insurers now allowed to invest in REITs
For example, the state's insurance-code recognizes FHLB stock as an admitted asset. Not all state insurance codes do, he said.
Cashing in on captives: the Federal Home Loan Bank Act allows companies to use their captive insurers as portals to cheap bank credit
But a contrary footnote explains that with permission of the Legislature and Governor, the fund can treat it as an "admitted asset," implying unchallengeable value."
Budget balancing (and other magic tricks)
Also, Funa said Kapit 'proposed that insurance companies be allowed to extend loans to jeepney operators, transport groups, cooperatives and transport management companies, and for the said loans to be considered as admitted asset of the lender-insurance provider.'
Cheaper insurance for jeepney operators eyed
* Allows Medical Malpractice Insurers to apply the value of surcharges or assessments that they could collect from their insured doctors and add that amount of potential surcharge or assessments to their admitted asset calculations without having to actually collect such surcharges or assessments.
Medical malpractice reform: matters of life & dea(r)th for docs in med mal debate: Klein proposal frees insurers to lower rates, reserve for "real world"
Ranked by 2018 admitted assets. ($ Thousands) 2018 2017 Company/Group AMB# Total Adm.
TOP 200 U.S. Life/Health Insurers
The IC said the aggregate placement of a life insurance company or mutual benefit association in REITs should not exceed 10 percent of its total admitted assets, while that of a non-life insurance company or professional reinsurance company should not exceed 20 percent of its net worth.
IC allows insurance, pre-need companies to invest on REITs
2019-27 issued on June 21, the IC said REITs could be admitted assets of insurance firms and mutual benefit associations (MBAs); for preneed providers, REITs can be allowable investments.
Rules on insurers' investments in REITs finally out
Under the new IC regulation, REIT must have prior approval of the Securities and Exchange Commission and shall be limited to publicly-listed companies only for it to be treated as admitted assets of an insurance or pre-need company.
IC sets limits on insurers' REIT investments
At September 30, 2018 Tri-State had net admitted assets of USD 105.4m and statutory surplus of USD 44.4m.
Standard Diversified to Acquire Tri-State Consumer Insurance in Deal Valued at USD 54m
At September 30, 2018 Tri-State had net admitted assets of $105.4M and statutory surplus of $44.4M.
Standard Diversified to acquire Tri-State Consumer Insurance for approx. $54.1M
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