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GeorgiaHB 3482025-2026 Regular SessionHouse

Insurance; expand lines of insurance or reinsurance in which a limited purpose subsidiary and captive insurance company may engage

Sponsored By: James Burchett (Republican), Carolyn Hugley (Democrat), Eddie Lumsden (Republican), Steve Tarvin (Republican), Darlene Taylor (Republican), Bruce Williamson (Republican)

Signed by Governor

InsuranceInsurance and LaborGeneral Bill

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 2 benefits, 0 costs, 0 mixed.

Georgia captive insurers gain broader access

Georgia captive insurers can provide any insurance or reinsurance the Insurance Commissioner finds reasonable, replacing four listed insurance categories. Their formation documents must allow the activity, and other captive insurance rules still apply. More people and businesses outside a parent company’s corporate group qualify for captive arrangements. They need a reinsurance, risk-sharing, or other contract with the parent or an affiliate, or a direct or indirect investment in a pure captive. Their risks must be managed by or ceded to a captive under Georgia law and approved by the Commissioner. The expanded definition also includes Commissioner-approved reinsurance arrangements with other captive insurers.

Georgia insurance subsidiaries gain more options

Georgia limited purpose subsidiaries can reinsure insurance lines authorized for their organizing reinsurer or a sponsor, not just the organizer’s risks. Sponsors now include entities helping form the subsidiary, issue securities, invest, or raise equity or debt. The subsidiary must be wholly owned by its organizing domestic reinsurer or one or more sponsors and hold the Insurance Commissioner’s certificate. The law also removes the prior language allowing alternative financing. The law takes effect on the first day of the month after the Governor approves it or it becomes law without approval.

Sponsors & Cosponsors

Sponsors

  • James Burchett

    Republican • House

  • Carolyn Hugley

    Democrat • House

  • Eddie Lumsden

    Republican • House

  • Steve Tarvin

    Republican • House

  • Darlene Taylor

    Republican • House

  • Bruce Williamson

    Republican • House

Cosponsors

  • Larry Walker

    Republican • Senate

Roll Call Votes

All Roll Calls

Yes: 252 • No: 65

Senate vote • 3/28/2025

ADOPTION OF AMENDMENT #1 BY THE SENATOR FROM THE 2ND

Yes: 18 • No: 32 • Other: 2

Senate vote • 3/28/2025

ADOPTION OF AMENDMENT #2 BY THE SENATOR FROM THE 9TH

Yes: 19 • No: 31 • Other: 2

Senate vote • 3/28/2025

PASSAGE

Yes: 47 • No: 2 • Other: 3

House vote • 3/4/2025

PASSAGE

Yes: 168 • No: 0 • Other: 7

Actions Timeline

  1. Effective Date

    6/1/2025

  2. House Date Signed by Governor

    5/14/2025House

  3. Act 258

    5/14/2025

  4. House Sent to Governor

    4/7/2025House

  5. Senate Third Read

    3/28/2025Senate

  6. Senate Passed/Adopted

    3/28/2025Senate

  7. Senate Read Second Time

    3/20/2025Senate

  8. Senate Committee Favorably Reported

    3/18/2025Senate

  9. Senate Read and Referred

    3/6/2025Senate

  10. House Third Readers

    3/4/2025House

  11. House Passed/Adopted

    3/4/2025House

  12. House Committee Favorably Reported

    2/20/2025House

  13. House Second Readers

    2/12/2025House

  14. House First Readers

    2/11/2025House

  15. House Hopper

    2/10/2025House

Bill Text

  • HB 348/AP* (v7)

    PDF

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