The attached mandatory call is being issued pursuant to §38.001 of the Texas Insurance Code ("the Code"). This information will be the basis for a report required under §425.107 of the Code, which requires the Texas Department of Insurance ("Department") to present a report to the Legislature on the industry's community investments in Texas.
All life and health insurers with $10 million or more of written premium in Texas in 2007 are required to provide information on Texas-only investments in real estate, commercial mortgages, residential mortgages, and development bonds. As the Department believes there is particular public interest in investments that benefit economically disadvantaged areas, companies are strongly encouraged to provide information on investments meeting the Defined Regions criteria outlined in the Instructions section of this data call. Reporting on investments in Texas through federal agencies such as FHA, Texas corporate stocks and bonds, deposits in Texas financial institutions, and contributions and other social investment programs is optional. This call covers the 2007 calendar year and must be completed and returned in accordance with instructions by not later than October 10, 2008.
Failure to comply with the requirements of this call within the time limits specified may constitute a violation or violations of the Code and may subject the insurer to the penalties provided by law. When opening the attachment, please select "Enable Macros" to ensure maximum functionality.
For additional information, contact Richard Dunlap at Richard.Dunlap@tdi.state.tx.us or 512-322-4365.
Danny Saenz
Senior Associate Commissioner
Financial Program