(a) A limited purpose subsidiary life insurance company that has been issued a certificate of authority may reinsure only the risks of a ceding insurer. A limited purpose subsidiary life insurance company may not otherwise engage in the business of insurance.
(b) A limited purpose subsidiary life insurance company may purchase reinsurance to cede the risks assumed under a reinsurance contract.

(c) A limited purpose subsidiary life insurance company organized under this subchapter is considered to be licensed to transact the business of reinsurance for the purposes of § 493.051, but may only reinsure risks of the company’s affiliated companies.
(d) A limited purpose subsidiary life insurance company shall provide the commissioner with notice of any change in the company’s business plan required by § 841.405, including any material change in the methods used to comply with § 841.413.