Insurance companies have increasingly expanded their global presence, necessitating a framework to support collaboration between states and other jurisdictions, resulting in more effective and efficient supervision. Internationally Active Insurance Groups or IAIGs are insurance holding company systems that operate and write premiums in multiple national jurisdictions while also meeting size criteria.
Pursuant to Iowa Code 521A, an IAIG is defined as an insurance holding company system that includes an insurer registered under Iowa Code 521A.4 and that meets all the following criteria:
- The insurance holding company system has premiums written in at least three countries.
- The percentage of gross written premiums written outside the United States is at least ten percent of the insurance holding company systemβs total gross written premiums.
- Based on a three-year rolling average, the total assets of the insurance holding company system are least fifty billion dollars or the total gross written premiums of the insurance holding company system are at least ten billion dollars.
Pursuant to Iowa Code 521A.6B, the Commissioner may determine whether an insurance holding company system is an IAIG and determine if the Commissioner is the appropriate group-wide supervisor for the IAIG.
Iowa Insurance Division Supervision of Internationally Active Insurance Groups
The internationally active insurance groups for which the Iowa Insurance Division is the group-wide supervisor are:
Apollo Global Management/Athene Holding Company
Please contact IAIG@iid.iowa.gov for any questions regarding internationally active insurance groups.