Vermont Domicile Information
CapitalizationCapital & Surplus:
$250,000 for single-parent
$500,000 for industrial insured, sponsored or association
$1 million for risk retention groups. Approved letters of credit can be used toward capitalization.

Premiums to Surplus: None.
Registration & Incorporation ExpensesFees:
$500 initial application and initial license fee; and $500 annual license renewal fee.
Investment Restrictions 
Tax IssuesTaxes: $7,500 minimum annual premium tax. Direct written premiums: 0.38% on first $20 million, 0.285% on next $20 million, 0.19% on next $20 million and 0.072% thereafter. Reinsurance premiums: 0.214% on the first $20 million, 0.143% on next $20 million, 0.048% on next $20 million and 0,024% thereafter. Maximum $200,000. Captives under common ownership may be consolidated for premium tax purposes in most circumstances.
Applicable ActsLaws: Special Insurer Act of 1981; Captive Law Title 8 V.S.A. Chapters 141, 142, and 142a.
Tax Treaties 
Supervisory JurisdictionDavid Provost
Deputy Commissioner of Captive Division
Vermont Department of Banking, Insurance, Securities & Health Care Administration
89 Main Street
Montpelier, VT 05620-3101
Tel: (802) 828-3304 Fax: (802) 828-3460
Reporting Requirements 
Reserve & Underwriting Requirements 
Local Office Requirements 
Estimated Number of Captives586
Domicile URL
NewsBecame domicile in 1981. As you can see, VT licenses RRGs! The proportion has been consistent over the years – 1 RRG licensed for every 4 captives. They have the infrastructure to take care of business. They provide a consistent regulatory environment, have the deepest bench in the captive market, and keep the strong support of the Commissioner, Governor, and Legislature.