Wis. Stat. § 610.23: Power to hold property in other than own name.

An insurer shall hold all investments and deposits of its funds in its own name except that:

(1) Custodial or trust arrangements. Securities kept under a custodial agreement or trust arrangement with a bank or banking and trust company may be issued in the name of a nominee of the bank or banking and trust company; and

(2) Bearer securities. Any insurer may acquire and hold securities in bearer form.