Number of active captives (pure)
Number of active captives (group/association)
Number of active captives (RRG)
Number of active captives (sponsored/cell captives)
Number of individual cells/cell participants
Total number of active captives, as of 12/31/2018
Types of captives allowed
- Single parent captives
- Association captives
- Group captives
- Protected cell/segregated portfolio companies
- Microcaptives set up using 831(b) regulations*
Number of full-time employees in captive regulatory department
Premiums to surplus
Minimum capital (broken out by type of captive)
Minimum capital requirements: $100,000 general insurance (property and casualty) business; $200,000 long-term insurance (life and annuity) business.
Applicable Acts/Enabling Legislation
Insurance Act & Regulations: Insurance Act Chapter 347, Insurance(General) Regulations 2010; External Insurance Act & Regulations: External Insurance Act Chapter 348, External Insurance (Judicial Management) Regulations, 2009, External Insurance (Variable Insurance Business) Regulations, 2010, External Insurance (Forms & Fees) Regulations, 2010, External Insurance (Classes of Insurance Business) Regulations, 2010, External Insurance (Capital Requirements for External Insurers, Insurance Managers, External Insurance Brokers) Regulations, 2010.
Contact information for captive Administrator
Time given for application process
30 - 60 days
Time given for operational plan changes
Are Exams done by own employees or by contract?
What is the examination cycle by type of captive?
Cost of exam range by pure? Average price?
Cost of exam range by RRG? Average price?
State domicile association name and website