|TO:||All Licensed Foreign Insurers with Statutory Trust Deposits in Massachusetts|
|FROM:||Julianne M. Bowler, Commissioner of Insurance|
|DATE:||February 7, 2005|
|RE:||Required Deposits to be Maintained by Foreign Insurers|
|Effective February 1, 2005, all licensed foreign insurers will no longer be required to maintain a $500,000 par value deposit in Massachusetts. The new deposit requirement is $100,000 par value. Deposits are held in accordance with M.G.L. Chapter 175, section 151.|
Companies entitled to return of deposits should contact Ursula McCarthy at (617-521-7391) during the first quarter of 2005 to arrange for the return of the securities.