BHC also owning an insurer?

[Sunrider]

Hello everyone

 

Not strictly investment related but I was hoping someone on this board may know something about this. Are there Bank Holding Companies in the US/Canada that also own (majority) an insurer? If so, are they regulated as a bank at the licence level (e.g. BIII capital adequacy) ... i.e. at the bank (not BHC) level? And is the insurer then also regulated at the insurance company level? Or is there some regulatory regime around capitalisation that also has teeth at the HoldCo level (e.g. requiring consolidation and aggregation to BHC level, which would be difficult if the BHC were treated like a bank because under BIII rules it would not be able to recognise a fair amount the capital tied up in the the other investments (here the insurer).

 

Thank you very much,

 

C.