P&CMAmedium
Under M.G.L. c. 175 §206B, the Massachusetts Insurance Holding Company System Act, what filing must a person make with the Commissioner before acquiring control of a domestic insurer?
AA simple notice letter with no Commissioner review required
BA Form A filed solely with the U.S. SEC for federal review, bypassing the Commissioner entirely
A Form A statement subject to the Commissioner's prior approval after a public hearing
DA nonbinding advisory opinion request to the NAIC
Why this is the answer
M.G.L. c. 175 §206B requires any person seeking to acquire control of a Massachusetts-domiciled insurer (presumed at 10% voting ownership) to file a Form A statement. The Commissioner conducts a public hearing within 30 days and may approve, deny, or condition the acquisition based on enumerated statutory standards.
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