New York Laws
Article 13 - Assets and Deposits
1320 - Deposits by Alien Insurers; Statutory Deposits.

(1) if such insurer is licensed in this state to do only one kind of
insurance, five hundred thousand dollars;
(2) if such insurer is licensed in this state to do two or more kinds
of insurance, an amount equal to the lesser of the capital required to
be maintained by a domestic stock insurer licensed to do the same kinds
of insurance, or one million dollars.
(b) Notwithstanding the foregoing, any alien insurer initially
licensed to do an insurance business in this state prior to July first,
nineteen hundred eighty-two shall have securities deposited or held as
trusteed assets, as provided in subsection (a) hereof in an amount at
least equal to fifty percent of the deposit requirements applicable to
an alien insurer initially authorized to do an insurance business in
this state on or after July first, nineteen hundred eighty-two.
(c) Any licensed alien insurer may make additional deposits with the
superintendent in order to comply with this section or section one
thousand three hundred twelve of this article.
(d) In any financial statement of a United States branch of any such
alien insurer the item corresponding to capital stock of a domestic
stock corporation shall be termed its "statutory deposit" and shall be
in an amount equal to the deposit required to comply with the provisions
of subsection (a) or (b) hereof.