NC S509

Allows insurers to invest in affiliates and nonaffiliate entities where officers or directors hold interests, subject to standards in G.S. 58-7-170 and G.S. 58-19-30.

Creates new section authorizing securities lending, repurchase, reverse repurchase, and dollar roll transactions with business entities, subject to written agreements, collateral requirements of 95-102% of transaction value, and a 40% limit on admitted assets.

Permits insurers to use repurchase and reverse repurchase transactions as security forms for reinsurance arrangements in addition to cash, securities, and letters of credit.

Revises mortgage loan-to-value limits to allow up to 90% for purchase money mortgages, 97% for residential mortgages with private insurance, and 80% for amortized loans with 30-year terms or less.

Increases maximum maturity period for loans secured by eligible securities or life insurance policies from 12 years to 30 years, effective retroactively to July 1, 2015.