Insurance Holding Company Act; include NAIC Group Capital Calculation test requirements.
SB 2412 updates Mississippi's Insurance Holding Company Act to require insurance holding companies operating in the state to comply with the National Association of Insurance Commissioners' (NAIC) Group Capital Calculation and Liquidity Stress Test Framework. This affects insurers within holding company systems, particularly internationally active groups meeting specific thresholds (e.g., $50 billion in assets or $10 billion in annual premiums). The bill mandates that these companies conduct capital and liquidity stress tests as defined by the NAIC, aligning Mississippi's regulations with national standards. It amends registration and reporting requirements for insurers within holding company systems to include these new testing obligations. The law was enacted after passing the legislature and receiving the governor's signature in March 2025.
Bill status
signed
all 5 stages cleared
Introduction
Feb 2025
Committee Review
Feb 2025
Senate Passage
Feb 2025
House Passage
Feb 2025
Signed into Law
Mar 2025
Introduced Feb 11, 2025
Signed Mar 6, 2025
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As Passed the upper
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Current version
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MINOR
The bill's title was updated from 'As Passed the Senate' to 'As Sent to Governor', indicating it has completed its legislative journey and is now awaiting the Governor's signature or veto. No substantive policy changes, scope modifications, or new requirements were identified in the provided text snippet.
TECHNICAL
Updated bill status designation from 'As Passed the Senate' to 'As Sent to Governor' in the header and title section, reflecting the bill's progression through the legislative process.
Floor votes · Senate Feb 10, 2025 · House Feb 27, 2025
How they voted
51–0
Passed
Total votes 51
Feb 10, 2025
D
Democratic16
100% Yea
R
Republican35
100% Yea
Vote distribution
All Yea
All Nay
Mixed
No data
Full legislative history
Actions timeline
Total actions
10
Key actions
5
Committee
4
Mar 6, 2025
Signed into law
Approved by Governor
executive
Feb 27, 2025
Lower · Passed
Passed
lower
Feb 26, 2025
Lower · Passed
Title Suff Do Pass
lower
Feb 14, 2025
Committee
Referred To Insurance
lower
Feb 11, 2025
Introduced
Transmitted To House
upper
Feb 10, 2025
Upper · Passed
Passed
upper
Jan 30, 2025
Upper · Passed
Title Suff Do Pass
upper
Jan 20, 2025
Committee
Referred To Insurance
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Walter Michel
RRepublican
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