Colorado Adopts Insurance Company Division Law

In recent years, several U.S. states have enacted insurance business transfer legislation or promulgated regulations
allowing an insurer to transfer its business, or a book of business, to another entity without the need for individual
policyholder consent. Separately, a few other U.S. states have taken a step in the direction of corporate reorganization by
allowing an insurer to divide into separate companies. We have previously reported on such legislation and regulations in
Connecticut, Oklahoma, Rhode Island, Vermont, Illinois, Michigan and Iowa.

On May 17, 2021, Governor Jared Polis of Colorado signed House Bill 21-1013, An Act Concerning the Division of
Domestic Stock Insurers into Multiple Resulting Domestic Stock Insurers (the “Colorado Division Law”), which we
summarize in this alert.

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