| Captives | 2 |
| Capitalization | Capital & Surplus: Pure: $250,000 Associaiton Captives Insurance Company incorporated as a stock insurer: $750,000 Industrial insured captive insurance company incorporated as a stock insurer: $500,000 Sponsored Cell Captive:$500,000 RRG:$500,000-$1 million Premiums to Surplus: None |
| Registration & Incorporation Expenses | Fees: $1,000 application fee $100 renewal fee $100 annual statement fee $350 reinstatement fee |
| Investment Restrictions | |
| Tax Issues | Taxes: No premium tax. All captive insurance companies are subject to ordinary state income tax. 2010 legislation provdies captive insurance companies, domiciled in the state of Main, a 100% Main Corporate Income Tax credit. |
| Applicable Acts | Laws: Title 24-A, Chapter 83, Sections 6701-6720, 1997 |
| Tax Treaties | |
| Supervisory Jurisdiction | Alex Bourne, 34 State House Station Augusta, ME www.maine.gov/pfr/insurance |
| Reporting Requirements | |
| Reserve & Underwriting Requirements | |
| Local Office Requirements | |
| Estimated Number of Captives | 2 |
| Domicile URL | http://www.maine.gov/pfr/insurance |
| Status | Active |
| News | Became domicile in 1997 |