Number of pure / single parent captives as of 2022
Number of group / association captives as of 2022
Number of risk retention groups (RRGs) as of 2022
Number of sponsored / cell company captives as of 2022
Number of individual cells / series as of 2022
Total gross premium written and assets under management (AuM) as of year-end 2021
Types of captives allowed
- Single parent captives
- Risk retention groups
Number of full-time employees in captive regulatory department
Premiums to surplus
Minimum capital (broken out by type of captive)
Applicable Acts/Enabling Legislation
New York Insurance Law - Article 70. Insurance companies are taxed under Article 33 of the New York Tax Law. Chapter 389 of the Laws of 1997 amended various sections of that Article (and added new Section 1502-b) to impose a premium tax (referred to as a â€œfranchise taxâ€ under New York law) on captive insurance companies. These and other tax law provisions were subsequently amended by Chapters 62 and 188 of the laws of 2003; Chapter 57 of the Laws of 2009; and Chapter 59 of the Laws of 2014. The tax on captive insurers is set forth in Section 1502-b. Captives are not subject to any other taxes under Article 33 of the New York Tax Law.
Contact information for captive Administrator
Speed of licensing
Time given for operational plan changes
Are Exams done by own employees or by contract?
What is the examination cycle by type of captive?
Average/Estimated Exam Cost for Single Parent Captive
Average/Estimated Exam Cost for Risk Retention Group
State domicile association name and website