MO SB346

Increases the cap on foreign investments by Missouri insurance companies from 5% to 20% of admitted assets, applying to companies with at least $100 million in admitted assets

Creates a new 25% cap on Canadian investments specifically, limiting how much insurers can hold in Canadian securities relative to their admitted assets

Allows insurers doing business in Canada or holding Canadian-denominated contracts to exceed the 25% Canadian investment limit based on Canadian regulatory requirements or 125% of their Canadian reserves and obligations

Requires foreign investments to be of substantially the same kind, class, and quality as eligible U.S. investments under Missouri law

Exempts insurers organized under Chapter 376 (life insurance companies) from these foreign investment provisions