Iowa is giving 10 life insurance companies capital and surplus relief by letting them use a Feb. 3 bulletin that temporarily relaxes deferred tax asset rules.

Tom Alger, an Iowa Insurance Division spokesman, says the companies that applied for and were granted relief include:

–Aviva Life & Annuity Company.

- CUMIS Insurance Society Inc.

- CUNA Mutual Insurance Society.

- Farm Bureau Life Company.

- Farm Bureau Mutual Insurance Company.

- ING USA Annuity & Life Insurance Company.

- Midland National Life Insurance Company.

- North American Company Life & Health Insurance Company.

- Principal Life Insurance Company.

- Transamerica Life Insurance Company.

The bulletin issued by the Iowa insurance department changes the amount of time available for realizing deferred tax assets to 3 years, from 1 year, or to 15%, from 10%, of statutory capital and surplus.

The allowance in the bulletin runs from Dec. 31, 2008, through Dec. 15, 2009.

In a related development, the New York State Insurance Department said that when insurers file New York financial statements, they must exclude the effects of capital and surplus exceptions granted in other states.

The department announced that requirement in Circular Letter Number 4, issued in February. Insurers’ annual financial statements are due March 1.

Some states, like Iowa, are responding to insurers’ requests for helping by permitting insurers to use accounting practices not normally allowed by the current statutory accounting rules.

To help consumers compare insurers, insurers’ financial reports “must be clear and consistent,” New York Insurance Superintendent Eric Dinallo says in a statement.

“Foreign insurers”-insurers that operate in New York state but have domiciles in other states-must adjust their statements to reflect New York accounting practices, New York regulators say.

An insurer that is using permitted practices outside New York should reflect those practices in the New York annual statement supplement, by adjusting the insurer’s assets, liabilities and surplus on a New York basis, officials write in the circular statement.