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
- Special purpose captives
- Special purpose financial captives
- Microcaptives set up using 831(b) regulations*
Number of full-time employees in captive regulatory department
Premiums to surplus
Minimum solvency margin requirements: property/casualty insurers, (a) for less than $500,000 new written premiums - $100,000; (b) more than $500,000 but less than $5,000,000 - 20% of NWP; and (c) more than $5,000,000 - $1,000,000 plus 10% of the difference between NWP and $5,000,000. Life and health insurers: $250,000.
Minimum capital (broken out by type of captive)
Minimum capital requirement: property/casualty Insurers, $100,000; and life and health insurers, $200,000.
Applicable Acts/Enabling Legislation
Insurance Act, 2008; Insurance (Amendment) Act 2015; Insurance Regulations 2009; Insurance (Amendment) Regulations 2015; Regulatory Code 2009 and other regulatory and AML legislation.
Contact information for captive Administrator
Time given for application process
3 - 6 Weeks
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