MO HB1112

Allows life insurance companies to offer non-life risk insurance as riders to life insurance policies issued outside the United States, provided annual premiums on such riders do not exceed 3 percent of the company's capital and surplus as of December 31 of the preceding year.

Permits corporations to sell involuntary unemployment insurance in connection with group life insurance when such insurance is sold outside the United States, in addition to existing authority to sell it with extensions of credit.

Expands insurer investment authority in three tiers: investments exceeding normal quantitative limits up to 3 percent of admitted assets; investments up to the lesser of 10 percent of admitted assets or 75 percent of capital and surplus; and additional investments up to the greater of 25 percent or 100 percent of capital and surplus minus 10 percent of admitted assets with director approval.

Requires insurers to demonstrate prudent investment practices and comply with existing capital requirements and regulations when making investments under the expanded authority.

Prohibits insurers from acquiring derivative transactions or investments otherwise prohibited under existing law, and limits any single investment in one person to 3 percent of admitted assets.