Domestic Minimum Capital and Surplus

Domestic Statutory Minimum Capital and Surplus Requirements

The chart below identifies the minimum capital and surplus requirement for each Domestic Uniform State.��

Last Updated: 07/22/2024
Updates to the information will be noted with a " * " next to��the state name and edits will be italicized and bolded.

State	Dollar Amount/ Code Citation/ Instructions
AL	§ 27-3-7 and 27-3-8 Code of Alabama, as amended. Instructions: Amount is calculated using table in statute based on lines of authority approved in domestic state.
AK	AS 21.09.070 and 3 ACC 28.050 for companies writing variable lines of business. Instructions: Amount is calculated using table in statute based on lines of authority approved in domestic state.
AZ	A.R.S. § 20-210 through 20-212 Mortgage Guaranty�� A.R.S. 20-1541 Prepaid Legal�� A.R.S. 20-1097 Title�� A.R.S. 20-1561 Instructions: Amount is calculated using table in statute based on lines of authority approved in domestic state.
AR	Ark. Code Ann. 23-63-205 and 23-63-207. Amount is calculated using table in statute based on lines of authority.
CA	P&C: Statutory minimum paid-in capital is between $1 to $2.6 million and minimum surplus is between $1 to $2.8 million. (§ 700.01-700.05). Life & disability:��Both statutory minimum paid-in capital & statutory minimum surplus are $2.5 million. (§ 10510, 10511, 10512 and 700.02�� and 700.05.). Statutory Minimum Capital and Surplus Requirements by Types/Lines of Business Instructions:�� Commissioner has discretion to require aggregate capital & surplus above statutory minimums prior to admission.
CT	Specific to the lines of business to be transacted (C.G.S. §38a-72). Instructions: See Connecticut's State-Specific Information in the State Charts for specific amounts.
CO	The greater of: •�� The statutory minimum in §10-3-201, C.R.S. •�� Three times the Authorized Control Level of the RBC Results. •�� 10 times the highest net single risk insurance��(for Property and Casualty only) in §10-3-102(3), C.R.S.
DE	Refer to Delaware Code ��for Minimum Capital and Surplus requirements by Types/Lines of Business. Go to our webpage at or contact us at BERG@Delaware.gov with any questions.
DC	Property & Casualty - (Capital-$300,000 plus Surplus-$300,000); Total $600, 000. DC Code § 31-2502.13. Life - (Capital-$1,000,000. plus Surplus-50% of Capital). Total $1,500.000. DC Code § 31-4408 and § 31-4501. Health Maintenance Organization - Initial net worth requirement is $1,500,00. DC Code § 31-3412(a). Title Insurers – Minimum paid in capital of $500,000 and paid-in initial surplus of $500,000 for a total minimum capital and surplus of $1 million. DC Code § 31-5031.05.
*FL	Property and Casualty Insurers – greater of $5 million or 10% of total liabilities (F.S. 624.407) Exception: financial guaranty insurance requires the total policyholder surplus to exceed $100 million (F.S. 627.973(1)(a); residential property insurer not holding a Certificate of Authority before July 1, 2011, $15 million (F.S. 624.408(1)(f)); domestic residential property insurer $15 million if not a wholly owned subsidiary of an insurer domiciled in another state (F.S. 624.407(1)(e)); domestic residential property insurer that is a wholly owned subsidiary of an insurer domiciled in another state $50 million (F.S. 624.407(1)(e)); domestic insurer that only transacts limited sinkhole coverage for personal lines residential property pursuant to F.S. 627.7151, $7.5 million; domestic mutual insurers are governed by F.S. 628; ��domestic reciprocal insurers are governed by F.S. 629 Mono-line insurer, Title, Surety, or Ocean Marine – greater of $2.5 million or 10% of insurer’s total liabilities (F.S. 624.407) Financial Guaranty Insurance Corporation – at least $50 million (F.S. 627.972(2)) Life Insurers – greater of $2.5 million or 4% of the insurer’s total liabilities (F.S. 624.407) Life and Health Insurers – greater of $2.5 million or 4% of the insurer’s total liabilities plus 6% of the insurer’s liabilities relative to health insurance (F.S. 624.407) Fraternal Benefit Society – Florida Statutes require that the society must not be in unsound financial condition or use methods or practices that are hazardous or injurious to policyholders or the public (F.S. 632.633 and F.S. 624.418).
GA	Minimum Capital and Surplus of $3,000,000.��O.C.G.A. §33.-3-6 and 33-3-7.
HI	Contact state for requirements.��
ID	Life, Disability and Life and Disability Paid up Capital Stock or Basic Surplus - $1,000,000 Additional Surplus - $1,000,000 Property, General Casualty, Marine and Transportation, Vehicle and Surety Paid up Capital Stock or Basic Surplus - $1,000,000 Additional Surplus - $1,000,000 Any two of the following kinds of insurance: Property, marine & transportation, general casualty, vehicle, surety, disability. Paid up Capital Stock or Basic Surplus - $1,000,000 Additional Surplus - $1,000,000 Multiple lines (all insurance except life and title insurance). Paid up Capital Stock or Basic Surplus - $1,000,000 Additional Surplus - $1,000,000 Mortgage guaranty insurance. Paid up Capital Stock or Basic Surplus - $1,500,000 Additional Surplus - $1,500,000 If authorized for Managed Care only, minimum capital and surplus may be determined by §41-3905(8) and IDAPA 18.01.26. **If authorized for Limited Managed Care Plan, minimum capital and surplus may be determined by § 41-3905(2).
IL	Primary��App: Stock - Life�� Capital �� $1,000,000 Surplus �� $1,000,000 Deposit �� $1,500,000 Mutual - Life Capital �� N/A Surplus �� $2,000,000 Deposit �� $1,500,000 Stock – P&C �� Capital �� $1,000,000 Surplus �� $1,000,000 Deposit �� $1,500,000 Mutual – P&C �� Capital �� N/A Surplus �� $2,000,000 Deposit �� $1,500,000 (For limited authority capital and surplus levels see 215 ILCS 5/13) (Note: Minimum surplus to be maintained, $500,000) Title Insurance (Illinois Department of Insurance does not regulate Title Insurance Companies. Jurisdiction of Title Insurance Companies in Illinois is under the Illinois Department of Financial and Professional Regulation - Division of Financial Institutions).�� Capital and Surplus �� $2,000,000 Deposit �� $1,000,000
IN	��– ��Stock ��– ��Mutual �� –�� HMO ��–�� Title �� –�� LSHMO
IA	Primary App: Greater of $5,000,000 or risk-based capital (Iowa Code 508.5 and 515.8) Contact IID for other types of licenses.
KS	Stock - P&C:�� Capital �� $900,000 Surplus ��$600,000 Deposit ��$900,000 Stock - Life: Capital �� $600,000 Surplus ��$600,000 Deposit ��$400,000 Stock - Mortgage Guaranty: Capital ��$1,000,000 Surplus $1,000,000 Deposit $1,000,000 Stock - Title: Capital ��$450,000 Surplus $300,000 Deposit $450,000 Mutual - P&C: Capital ��N/A Surplus ��$1,500,000 Deposit ��$900,000 Mutual Life: Capital - N/A Surplus ��$1,200,000 Deposit ��$400,000 Mutual - Mortgage Guaranty: Capital ��N/A Surplus $2,000,000 Deposit $1,000,000 Minimum deposit amount is the market value. The minimum requirements for a property company only (stock and mutual) and a casualty company only (stock and mutual) are one-half of the requirements noted above.
KY	Contact state for requirements.��
LA	Please see Louisiana's State Specific Information in the State Charts for more information.
ME	Contact state for requirements.
MD	Minimum capital and surplus requirements are set forth in §4-103, 4-104, and 4-105 of the Insurance Article of the Annotated Code of Maryland and in §19-710 of Article Health-General of the Annotated Code of Maryland. Instructions: See Maryland’s State-Specific Information in the State charts for more information.
MA	Contact state for requirements.
MI	$7.5 million (§500.410(2) and (3)). Minimum amounts required could increase at the discretion of the Director to comply with §500.403.
MN	Specific to lines of business to be transacted (MN Stat §60A .07).Contact state department for requirements at insurance.commerce@state.us.
MS	Stock Life, Accident & Health Insurance Companies and Stock Property & Casualty Insurance Companies: Single Line – $400,000 capital and $600,000 surplus (MCA 83-21-3(2)) and MCA 83-19-31(2)) Multi-line - $600,000 capital and $900,000 surplus (MCA 83-21-3(2) and MCA 83-19-31(1) (b)) Mutual or Reciprocal Companies: MCA 83-21-3(2) and MCA 83-19-31(1)(d) Title Companies: $150,000 capital and $75,000 surplus (MCA 83-15-5) Prepaid Legal: MCA 83-49-23 Fraternal Societies: MCA 83-29-29 and MCA 83-30-57 Health Maintenance Organization:��MCA 83-41-325
MO	See State Website at Life: 376.280.1�� Prepaid Dental: 354.710 P&C: 379.010.2�� HMO: 354.410.6 Title: 381.062�� Reciprocal: 379.710
MT	§ 33-2-109 and 33-2-110 (statute reference) and�� Life ��$600,000 Disability�� $500,000 Life and disability�� $750,000 Credit and disability�� $150,000 Property�� $500,000 Marine�� $500,000 Casualty All lines, except Workers’ Compensation�� $500,000 All lines, including Workers’ Compensation�� $750,000 Surety�� $500,000 Title�� $500,000 Multiple Lines, two or more of property, marine, casualty, or surety��$1,000,000 Instructions: Amount is calculated using the table based on lines of authority approved in your domestic state.
NE	Stock Companies writing Life or P&C lines/Neb Rev Stat 44-214/to begin transacting must have at least $1 million in capital stock and $1 million in surplus, thereafter the $1 million in capital must be maintained (“unimpaired”).��This is also subject to the Risk Based Capital Act.�� Double the amounts if company is writing both life and P&C lines. Mutual Companies writing Life or P&C lines/Neb Rev Stat 44-219/must have and maintain at least $1 million in surplus.��This is also subject to the Risk Based Capital Act.��Double amount if company is writing both life and P&C lines. Title Companies/Neb Rev Stat 44-1985/Same amounts as stock companies but not subject to Risk Based Capital Act. Variable Annuity Companies/Neb Rev Stat 44-2202/To begin transaction must have at least $2 million in capital and surplus, thereafter, surplus must be maintained of at least $1.5 million. Stock Domestic Surplus Lines/Neb Rev Stat 44-5506.01/to begin transacting must have at least $1 million in Capital Stock and $15 million in policyholder surplus.
NV	Contact state for requirements.��
NH	New Hampshire requires that all insurers have a minimum of $1,000,000 in combined capital and surplus. (RSA 401:4, 401:5, 405:2, and 405:4).
NJ	N.J.S.A. 17:17-6 and��17B:18-68. See New Jersey’s and the sections for additional information.��
NM	SCHEDULE I. Section 59A-5-16 NMSA 1978. Please be advised that NMSA 1978 Section 59A-5-16 Schedule I sets out minimum capital and surplus as well as deposits.��The surplus required of any company applying for a Certificate of Authority before the Office of Superintendent of Insurance (OSI) is based upon the financial review, business plan and projections of the company as well as other documentation provided in their application. Generally, the OSI would look for the amount of capital that comparable licensed insurance companies have that write the premium volume for the line(s) of insurance being proposed and projected by the applying company.��The OSI also looks for supported projections to keep RBC above 300% as this amount is considered the bare minimum.
NY	Dollar Amount/Code Citation Property: Refer to Article 41 of the NY Insurance Law, surplus and capital will vary based upon the lines if business written Life: $2,000,000 paid in capital $4,000,000 paid in initial surplus §4202 of the N.Y. Ins. Law Health: Minimum Capital §1113(a)(3)(i) of the N.Y. Ins. Law Paid in Capital $200,000 Paid in Surplus 100,000 Total: $300,000 § 1113 (a)(3)(i) and 3(ii) of the N.Y. Ins. Law Paid in Capital $300,000 Paid in Surplus 150,000 Total: $450,000 Instructions: A company may write "legal services insurance" if licensed for any of the above lines with no additional capitalization. Note:��A higher amount of surplus may be required based upon a review of the Company’s Plan of Operations and Financial Projections
NC	Contact state for requirements.��
ND	Stock: Capital �� $�� 500,000 Surplus�� $�� 500,000 26.1-11-01, 26.1-05-04 Mutual: Surplus�� $�� 1,000,000 26.1-11-01, 26.1-12-08, 26.1-12-10 Title Stock Company: Capital �� $�� 500,000 Surplus�� $�� 500,000 Mutual Company: Surplus:�� $�� 500,000 26.1-20-02 HMO: Initial net worth:�� $�� 1,000,000 26.1-18.1-12 Prepaid Legal: To be determined on individual basis: Working capital adequacy. Surety bond or deposit of cash or securities 26.1-19-06.
OH	Life, Accident and Health companies: $2,500,000 min. O.R.C. 3907.05 and 3909.02; If stock insurer, minimum $1,000,000 in paid in capital, and minimum $1,000,000 in contributed surplus. P&C companies: $2,500,000, 5,000,000, or $10,000,000 min. If stock insurer, minimum $1,000,000 in paid in capital, and minimum $1,000,000 in contributed surplus. O.R.C. 3929.011. Title insurance companies: $300,000 min. O.R.C. 3953.05
OK	Contact state for requirements.
OR	Contact state for requirements.
PA	Dollar amount is specific to line(s) of business as defined by: Life, Property& Casualty: 40 P.S. § 386 Title: 40 P.S. § 910-5
PR	§ 3.090 of the Insurance Code of Puerto Rico-Funds required from insurers. "To qualify to receive the authority to transact any kind of insurance, an insurer must have and hold paid-in capital or surplus stock in an amount which shall not be less than what appears in the applicable portion of the following schedule: �� Stock,��mutual,�� Reciprocals�� �� or��cooperative�� or Lloyd's Surplus�� �� insurers��Capital�� required�� �� or surplus �� �� required�� Kind of Insurance�� surplus�� Life�� $1,500,000�� Not��applicable�� Life��and��disability�� $2,500,000�� Not��applicable�� Disability�� $1,000,000�� $1,000,000�� Property�� $2.000,000�� $2,000,000�� Agricultural��only�� Must��qualify��for�� �� property�� �� insurance�� Marine��and��Transport�� $1,500,000�� $1,500,000�� Casualty��$2,000,000�� $2,000,000�� Vehicle��only�� $1,500,000��$1,500,000�� Surety��and��fidelity�� $1,500,000�� $1,500,000�� Title�� $1,500,000��Not��applicable�� Mortgage��loans�� $3,000,000�� Not��applicable�� All��insurance��except��life��$3,000,000�� $3,000,000�� and mortgage��loans�� The Commissioner may increase the aforementioned requirements as may be determined by the economic condition of the country up to the amount he deems necessary for the adequate protection of the interests of the insured and the creditors of the insurer.’’ For more information see state specific requirements.
RI	��$3,000,000; Rhode Island General Law 27-1-37.
SC	Statutory requirements outlined in S.C. Code Ann. §38-9-10 (stock companies) or 38-9-20 (mutual companies).
SD	SDCL 58-6-23. See State Specific Information.
TN	P&C $2,000,000 per Tenn. Code Ann. § 56-2-114(a) and 56-2-115. Life & Health $2,000,000 per Tenn. Code Ann. § 56-2-114(a) and 56-2-115. MEWA- Greater of 1.) 30% of unpaid claims liability of the arrangement or 2.) amount recommended and certified by actuary.�� See Tenn. R & Reg. 0780-01-76-.06. Title $500,000 per Tenn. Code Ann. § 56-35-112. HMO $900,000 (with additional calculation per Tenn. Code Ann. § 56-32-112.). Prepaid Legal – Minimum Capital $100K and minimum Surplus (1/3 of Gross Premium) per Tenn. R & Reg. 0780-01-60-.05(1).
TX	Property and Casualty:��$2.5 Million in capital stock and $2.5 Million in paid in surplus (Chapter 822.054, Texas Insurance Code). Life and Health:��$700,000 in capital stock and $700,000 in paid in surplus (Chapter 841.054, Texas Insurance Code). Title:��$1,000,000 in capital stock and $1,000,000 in paid in surplus (Chapter 2551.053, Texas Insurance Code).
UT	Life, Accident, Health and Property and Casualty Insurers:��See Utah Code 31A-5-211.
VT	Traditional Stock Co.: Capital $2,000,000 Surplus $3,000,000 Mutual Co.: Surplus $5,000,000 8 V.S.A. §3304
VA	Stock Insurers: Capital Stock $1,000,000 Surplus $3,000,000 (§ 38.2-1028) Assessable Mutual Insurers: Surplus $1,600,000 (§ 38.2-1029) Nonassessable Mutual Insurers: Surplus $4,000,000 (§ 38.2-1030) Assessable Reciprocals: Surplus $1,600,000 (§ 38.2-1206) Nonassessable Reciprocals: Surplus $4,000,000 (§ 38.2-1213) For initial licensing purposes, an applicant must also have an additional amount of surplus (excluding capital stock) of not less than $500,000 (Virginia Administrative Letter 2002-7).
WA	Specific to the lines of business to be transacted (RCW §48.05.340). Instructions:��See Washington's State-Specific Information.
WV	Fully paid in capital stock, if a stock insurer, or surplus, if a mutual insurer, of at least one million dollars. In addition, each insurer shall have and maintain additional surplus funds of at least one million dollars (W. Va. Code §33-3-5b).
WI	Minimum Capital and Surplus required is the greater of $3 million or percentage of prior 12 months premium. See from state web-site. Ref: 618.21(1)(a), 611.19, 623.11, 623.12 Wis Stats, Ins 51.80 Wis Adm Code.
WY	W.S. 26-3-108

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