Domiciles

Note: Much of the data included here was based on year-end 2018 data. We are in the process of updating it with year-end 2019 data. Going forward we will be verifying all fields either directly with the domicile, or by using credible and confirmed data sources. If you represent a domicile or domicile association and are able to update and complete the data fields, please use this form. All data will be verified by CICA before it is published and will include the date and source of the update.

Number of active captives (pure)
8
Number of active captives (group/association)
0
Number of active captives (RRG)
0
Number of active captives (sponsored/cell captives)
0
Number of individual cells/cell participants
454
Total number of active captives, as of 12/31/2018
13
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
3
Premiums to surplus
For Class 1 pure captives: 5:1 or amount adjustable by surplus premium relationship to exposure; for Class 2 association captives: 5:1 or 3:1 regarding third party risk; for Class 3 protected cell company: 3:1.
Minimum capital (broken out by type of captive)

Minimum: $500,000 for Class 1 pure captives; $750,000 for Class 2 association captives; $1.5 million Class 3 protected cell companies; No statutory requirement for protected cells.

Applicable Acts/Enabling Legislation
Puerto Rico Insurance Code, as amended by Public Law Nos.399 and 400, signed Sept. 22, 2004, and effective March 22, 2005, as amended by Public Law 98 signed June 20, 2011, effective January 1, 2012; as amended Public Law 39 of March 18, 2014, effective April 17, 2014. Rules 80,81,82 and 100.
Contact information for captive Administrator
Time given for application process
14 days
Time given for operational plan changes
Website Address
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

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