Insurance Companies, Agents, Brokers, Policies - As enacted, revises the criteria by which certain domestic insurance companies may invest or acquire an interest in foreign investment assets, real property, and certain money market funds. - Amends TCA Title 56, Chapter 3, Part 4.

SB 696 modifies Tennessee insurance laws to increase investment limits for domestic insurance companies. It raises the cap on foreign investment assets from 1% to 20% of a company’s assets and increases real property investment limits from 5% to 10%. The bill also adds new rules for investing in specific money market funds that meet industry standards for government-backed or high-quality short-term investments. These changes directly affect Tennessee-based insurance companies by expanding their allowable investment options under state law. The bill became effective March 25, 2025.