STAND. COM. REP. NO. 3282

                                   Honolulu, Hawaii
                                                     , 2000

                                   RE:  H.B. No. 2220
                                        




Honorable Norman Mizuguchi
President of the Senate
Twentieth State Legislature
Regular Session of 2000
State of Hawaii

Sir:

     Your Committee on Commerce and Consumer Protection, to which
was referred H.B. No. 2220 entitled: 

     "A BILL FOR AN ACT RELATING TO CAPTIVE INSURANCE,"

begs leave to report as follows:

     The purpose of this measure is to establish a framework to
make it easier for two captive insurance companies to merge
together, or for an existing captive insurer to convert from one
corporate form to another, while maintaining prudent regulatory
oversight and protecting the public interest.

     Testimony in support of this measure was received from the
Insurance Commissioner and the Hawaii Captive Insurance Council.

     Your Committee finds that this measure would help make
Hawaii's captive insurance laws more comprehensive by addressing
captive insurers who seek to change their corporate form after
their initial licensure due to merger, acquisition, or
reorganization activities.

     As affirmed by the record of votes of the members of your
Committee on Commerce and Consumer Protection that is attached to
this report, your Committee is in accord with the intent and
purpose of H.B. No. 2220 and recommends that it pass Second
Reading and be placed on the calendar for Third Reading.


 
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                                   STAND. COM. REP. NO. 3282
                                   Page 2


                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committee on Commerce and
                                   Consumer Protection,



                                   ______________________________
                                   BRIAN KANNO, Co-Chair



                                   ______________________________
                                   BRIAN T. TANIGUCHI, Co-Chair

 
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