Notwithstanding the provisions of section five of this
article, the assets of two or more protected cells may be combined
for purposes of investment, and such combination shall not be
construed as defeating the segregation of such assets for
accounting or other purposes. Sponsored captive insurance
companies shall comply with the investment requirements contained
in article eight of this chapter, as applicable: Provided, That
compliance with such investment requirements shall be waived for
sponsored captive insurance companies to the extent that credit for
reinsurance ceded to reinsurers is allowed pursuant to section
eleven, article thirty-one of this chapter or to the extent
otherwise deemed reasonable and appropriate by the commissioner.
Notwithstanding any other provision of this chapter, the
commissioner may approve the use of alternative reliable methods of
valuation and rating.