# Iowa HF 2766: A bill for an act relating to captive insurance companies and life captive reinsurance companies, and including civil penalties. (Formerly HSB 756.) Effective date: 07/01/2026. Iowa HF 2766, A bill for an act relating to captive insurance companies and life captive reinsurance companies, and including civil penalties. (Formerly HSB 756.) Effective date: 07/01/2026., is a 91st General Assembly (2025–2026) House bill sponsored by COMMITTEE ON WAYS AND MEANS; status signed, last action 2026-05-27 (Fiscal note.) (as of 2026-10-19). - Canonical: https://policyrisk.com/state-bill/IA-HF2766-2025-2026 - As of: 2026-10-19 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: Iowa HF 2766 - State: Iowa - Session: 91st General Assembly (2025–2026) - Title: A bill for an act relating to captive insurance companies and life captive reinsurance companies, and including civil penalties. (Formerly HSB 756.) Effective date: 07/01/2026. - Status: signed - Chamber: House - Introduced: 2026-04-13 - Last action: 2026-05-27, Fiscal note. - Sponsor: COMMITTEE ON WAYS AND MEANS - Cosponsors: 0 - Touches household money: no - Roll calls: 2 (135 yes, 1 no in all) - Economic provisions PRIA read: 15 ## Summary No summary available. ## Bill overview: provisions PRIA read - Captive insurers gain another risk-transfer option: benefit, low. Beginning July 1, 2026, captive insurers can apply for authority to accept or transfer risk through parametric contracts. Their organizational documents must allow that activity. The new option remains subject to the law's licensing requirements and exceptions. - Captive insurers lose initial registration fees: benefit, low. Beginning July 1, 2026, captive insurers, individual limited liability company series, and protected cells no longer pay initial registration fees. Their annual renewal fee remains $300 each. The law does not state the amount of the removed initial fee. - Lower capital requirements for protected-cell insurers: benefit, low. Beginning July 1, 2026, the minimum capital and surplus requirement for protected-cell captive insurers drops from $500,000 to $100,000. That is a $400,000 reduction. Each protected cell must remain a separate business entity, but it no longer has to be incorporated. - Life reinsurers face ownership and recordkeeping rules: cost, low. Beginning July 1, 2026, organizing companies must report ownership interests in life captive reinsurers using the reinsurer's audited statutory surplus. Life captive reinsurers must keep original records in Iowa unless the commissioner approves an exception. Records must support financial and compl… - Life reinsurers face strict business limits: cost, low. Beginning July 1, 2026, licensed life captive reinsurers can reinsure only a ceding insurer's risks, not conduct other insurance business. Without advance approval, retained losses must be funded by securitization proceeds, ceding-insurer payments, letters of credit, parent guarantees, or specified… - Life reinsurers need major-transaction approval: cost, low. Beginning July 1, 2026, life captive reinsurers must give 30 calendar days' written notice and obtain express approval before specified major actions. These include dissolution, transferring more than 30% of assets, taking on material debt, merging, changing home jurisdictions, or ending business.… - Captive insurers face revised filing oversight: mixed, low. Beginning July 1, 2026, captive insurers need commissioner approval before filing organizational documents or amendments with the secretary of state. License applicants no longer need a certified copy of their organizational document, but the commissioner can request additional materials. Annual re… - Captive insurers gain more organizational choices: mixed, low. Beginning July 1, 2026, captive insurers can use Iowa's domestic corporation process by filing articles and paying required fees. With insurance commissioner approval, they can organize as business entities or reciprocal insurers. Reciprocal insurers must follow Iowa's reciprocal-insurer rules unle… - Captive insurers gain supervised investment flexibility: mixed, low. Beginning July 1, 2026, captive insurers can use commissioner-approved marketable securities for any part of their required capital and surplus. The commissioner can require more frequent financial reports when they do. For captives reporting under $5 million in total assets, the commissioner can a… - Dormant life reinsurers get temporary relief: mixed, low. Beginning July 1, 2026, Iowa-based life captive reinsurers can apply for a five-year dormancy certificate that cannot be renewed. During dormancy, they must keep $25,000 in unimpaired paid-in capital and surplus and are exempt from the specified premium-tax provision. They must file annual financia… - Insurer filings get privacy with exceptions: mixed, low. Beginning July 1, 2026, captive and life captive submissions generally remain confidential without advance written company consent. Captive annual financial reports are public unless commissioner rules provide otherwise. Life captive information can be disclosed through qualifying court proceedings… - Life reinsurers gain assets with safeguards: mixed, low. Beginning July 1, 2026, life captive reinsurers can count securitization proceeds, ceding-insurer payments, letters of credit, parent guarantees, and approved assets toward regulatory assets. Before reducing previously approved amounts, the commissioner must give 30 calendar days' notice and a chan… - Life reinsurers get licensing with fees: mixed, low. Beginning July 1, 2026, life captive reinsurers have a licensing path for viable, lawful plans that do not endanger ceding insurers. They pay a nonrefundable $2,500 application fee, possible outside-expert costs, and $2,500 for each annual renewal. Companies need an Iowa principal office, an annual… - Reinsurance securities gain exemptions and disclosures: mixed, low. Beginning July 1, 2026, securities issued by life captive reinsurers are not regulated as insurance or reinsurance contracts. Holding or investing in them alone does not make someone an insurance business in Iowa. Specified participants also avoid insurance-producer or broker status solely for rela… - Moving captive insurers gain tax deferrals: mixed, low. Beginning July 1, 2026, foreign or alien captives moving their home jurisdiction to Iowa owe Iowa premium tax only on premiums paid after the move. They can elect to forgo payment for the move year or the next calendar year. Surrendering the Iowa license or moving elsewhere within five years makes… ## Sponsors and cosponsors - Sponsor: COMMITTEE ON WAYS AND MEANS ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2026-04-21 | Senate | Passed Senate | pass | 44 | 0 | | | 2026-04-20 | House | Passed House | pass | 91 | 1 | | ## Actions (15) - 2026-05-27: Fiscal note. (legislature) - 2026-05-15: Signed by Governor. (House) - 2026-05-06: Reported correctly enrolled, signed by Speaker and President, and sent to Governor. (House) - 2026-04-21: Message from Senate. (House) - 2026-04-21: Immediate message. (Senate) - 2026-04-21: Passed Senate, yeas 44, nays 0. (Senate) - 2026-04-21: Substituted for SF 2499. (Senate) - 2026-04-21: Read first time, attached to SF 2499. (Senate) - 2026-04-21: Message from House. (Senate) - 2026-04-20: Immediate message. (House) - 2026-04-20: Passed House, yeas 91, nays 1. (House) - 2026-04-20: Amendment H-8379 adopted. (House) - 2026-04-16: Amendment H-8379 filed. (House) - 2026-04-16: Fiscal note. (legislature) - 2026-04-13: Introduced, placed on Ways and Means calendar. (House) ## Bill text - As Introduced: [PDF](https://www.legis.iowa.gov/docs/publications/LGI/91/HF2766.pdf) - Enrolled: [PDF](https://www.legis.iowa.gov/docs/publications/LGE/91/HF2766.pdf) ## Related bills - HF 2801: A bill for an act modifying the major economic growth attraction program, and including effective date provisions. (Formerly HSB 785.) Effective date: 10/02/20… (signed) - SF 2472: A bill for an act relating to state and local government taxes, fees, financial authority, and budgets, by modifying property assessment provisions, divisions… (signed) - HF 2601: A bill for an act relating to campaign finance, including participation in ballot issue campaigns by foreign nationals and investigations of election misconduc… (signed) - SF 2471: A bill for an act relating to fees for lifetime fur harvester licenses. (Formerly SF 2317, SSB 3121.) Effective date: 07/01/2026. (signed) - SF 2399: A bill for an act relating to bail and bond amounts and conditions. (Formerly SSB 3162.) Effective date: 07/01/2026. (signed) - SF 2299: A bill for an act relating to the district-to-community college sharing or concurrent enrollment program. (Formerly SF 2176.) Vetoed 6-2-26. (vetoed) ## Sources - [As Introduced (PDF)](https://www.legis.iowa.gov/docs/publications/LGI/91/HF2766.pdf) - [Enrolled (PDF)](https://www.legis.iowa.gov/docs/publications/LGE/91/HF2766.pdf) ## Related - [HF 2801: A bill for an act modifying the major economic growth attraction program, and i…](https://policyrisk.com/state-bill/IA-HF2801-2025-2026) - [SF 2472: A bill for an act relating to state and local government taxes, fees, financial…](https://policyrisk.com/state-bill/IA-SF2472-2025-2026) - [HF 2601: A bill for an act relating to campaign finance, including participation in ball…](https://policyrisk.com/state-bill/IA-HF2601-2025-2026) - [SF 2471: A bill for an act relating to fees for lifetime fur harvester licenses. (Former…](https://policyrisk.com/state-bill/IA-SF2471-2025-2026) - [SF 2399: A bill for an act relating to bail and bond amounts and conditions. (Formerly S…](https://policyrisk.com/state-bill/IA-SF2399-2025-2026) - [SF 2299: A bill for an act relating to the district-to-community college sharing or conc…](https://policyrisk.com/state-bill/IA-SF2299-2025-2026) - [Iowa bills](https://policyrisk.com/states/iowa/bills) - [Iowa state hub](https://policyrisk.com/states/iowa) - [All state legislation](https://policyrisk.com/state-bills) Source: PRIA, https://policyrisk.com/state-bill/IA-HF2766-2025-2026 (as of 2026-10-19).