The chart below identifies the minimum capital and surplus requirement for each Uniform State. A link to the Application instructions for Primary Application, Section II, Filing Requirement Item 3; Expansion Application, Section II, Filing Requirement Item 3; and Corporate Amendment Application Section I and V, Filing Requirement Item 5 are provided.
Last Updated: 10/31/2023
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|
§ 27-3-7 and 27-3-8 Code of Alabama, as amended.
AS 21.09.070 and 3 ACC 28.050 for companies writing variable lines of business.
A.R.S. § 20-210 through 20-212
Mortgage Guaranty A.R.S. 20-1541
Ark. Code Ann. 23-63-205 and 23-63-207
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.)
Specific to the lines of business to be transacted (C.G.S. §38a-72).
The greater of:
Refer to Delaware Code 18 Del. C. § 511 (a) for Minimum Capital and Surplus requirements by Types/Lines of Business.
Property & Casualty - (Capital-$300,000 plus Surplus-$300,000); Total $600, 000.
Life - (Capital-$1,000,000. plus Surplus-50% of Capital). Total $1,500.000.
Health Maintenance Organization - Initial net worth requirement is $1,500,00.
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.
Property and Casualty Insurers – greater of $5 million or 10% of total liabilities (F.S. 624.407)
|GA||Minimum Capital and Surplus of $3,000,000 O.C.G.A. §33.-3-6 and 33-3-7|
|HI||Depends on the line of business to be transacted (§ 431:3-205, HRS), (§ 431:3-208 HRS)|
Life, Disability and Life and Disability
Property, General Casualty, Marine and Transportation, Vehicle and Surety
Any two of the following kinds of insurance: Property, marine & transportation, general casualty, vehicle, surety, disability.
Multiple lines (all insurance except life and title insurance)
Mortgage guaranty insurance
** If authorized for Limited Managed Care Plan, minimum capital and surplus may be determined by § 41-3905(2).
Primary& Expansion App:
Mutual - Life
Stock – P&C
Mutual – P&C
(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 Instititutions)
IC 27-1-6-14 – Stock
IC 27-1-6-15 – Mutual
IC 27-13-12-2 – HMO
IC 27-7-3-5 – Title
IC 27-13-34-16 – LSHMO
Note: A foreign or alien insurance company admitted doing an insurance business in this state shall have the same but no greater rights and privileges than a domestic company.
Primary & Expansion Apps:
Stock - P&C - Capital $900,000
Stock - Life - Capital $600,000
*Minimum requires “market value” of securities held for deposit.
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.
All foreign stock life/health and property/casualty must have a minimum capital stock of $1,000,000 plus an initial free surplus of $2,000,000.
All foreign mutual life/health, property/casualty, reciprocal and Lloyd's insurers must have a minimum basic surplus of $1,000,000 plus an initial free surplus of $2,000,000. See KRS 304.3-120.
All HMOs must have a minimum capital stock of $1,000,000 plus an initial free surplus of $2,000,000. See KRS 304.38-070.
|LA||Please see Louisiana's State Specific Information in the State Charts for more information.|
Depends on line of business transacted (Title 24-A M.R.S.A. §410)
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.
|MA||Please see Massachusetts' State Specific Information in the State Charts for more information.|
$7.5 million (§500.410(2) and (3))
Minimum amounts required could increase at the discretion of the Director to comply with §500.403.
Specific to lines of business to be transacted (MN Stat §60A .07)
Stock Life, Accident & Health Insurance Companies and Stock Property & Casualty Insurance Companies:
Mutual or Reciprocal Companies:
Title Companies: $150,000 capital and $75,000 surplus (MCA 83-15-5)
Prepaid Legals: MCA 83-49-23
Fraternal Societies: MCA 83-29-29 and MCA 83-30-57
Health Maintenance Organization: MCA 83-41-325
See State Website at http://insurance.mo.gov/industry/filings/admissions/fees.php
All lines, including
Multiple Lines, two or more of
To begin transacting insurance, must have capital of at least $1 million and surplus of at least $1 million.
Thereafter, capital must be maintained (“unimpaired”) of at least $1 million.
Also, subject to Risk Based Capital Act.
Must maintain surplus of at least $1 million.
Also subject to Risk Based Capital Act §44-60
Variable annuities §44-2202
Required Capital & Surplus – NRS 680A.120 an insurer shall possess and thereafter maintain unimpaired paid-in capital stock, if a stock insurer, or unimpaired basic surplus, if a mutual or a reciprocal insurer, and free surplus not less than 100% of the minimum required capital stock or minimum required basic surplus, and when first so authorized shall possess initial free surplus.
Stock and Foreign Mutual Insurers $500,000 minimum required capital stock.
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).
N.J.S.A. 17:17-6 and 17B:18-68
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.
Dollar Amount/Code Citation
§ 1113 (a)(3)(i) and 3(ii) of the N.Y. Ins. Law
A company may write "legal services insurance" if licensed for any of the above lines with no additional capitalization.
Primary & Expansion Apps:
NCGS 58-7-75, NCGS 58-16-5(2)
Accident and health:
Life, accident and health:
Mutual life, accident and health insurance company:
Fire & marine:
Multiple line fire and casualty:
Mutual multiple line fire and casualty insurance company:
Corporate Amendments App:
Initial net worth: $ 1,000,000
Life, Accident and Health companies:
Title insurance companies:
O.S. 36 §610 §611—all lines of business $1,500,000, except O.S. 36 §612.1, requires $2,000,000 when writing or issuing Non-Cancelable or Guaranteed Renewable Contracts.
Generally: $2,500,000 capital or surplus, or any combination thereof (ORS 731.554(1)) Must comply with ORS 733.580, investment of required capitalization.
Workers’ compensation: $5,000,000 (ORS 731.554(2))
Healthcare Service Contractors
Limited Healthcare Service Contractors (complementary, dental or vision only) $1,000,000
Dollar amount is specific to line(s) of business as defined by:
Life, Property& Casualty
§ 3.090 of the Insurance Code of Puerto Rico-Funds required from insurers
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.
|SC||Statutory requirements outlined in S.C. Code Ann. §38-9-10 (stock companies) or 38-9-20 (mutual companies) or the statutory requirements of the applicant's home state, whichever is greater.|
Property and Casualty
Property and Casualty
Life, Accident, Health and Property and Casualty Insurers:
See Utah Code 31A-5-211
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).
Specific to the lines of business to be transacted (RCW §48.05.340).
|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)|
Minimum Capital and Surplus required is the greater of $3 million or percentage of prior 12 months premium. See Compulsory and Security Surplus Calculation Form from state web-site. Ref: 618.21(1)(a), 611.19, 623.11, 623.12 Wis Stats, Ins 51.80 Wis Adm Code