Domiciles

Special thank you to Captive Intelligence for providing much of the data used here. It is based on year-end 2022 and has been verified with relevant governing bodies, based on the following definitions:

• The core of cell or “sponsored” captive structures, i.e., PCC, ICC, SPC, SAC, and Series, are included, but individual cells and series are not.
• Data on individual cells and series is collected where domiciles provide it, and numbers are provided, but the industry does not currently have a consistent approach to contextualizing.
• Group and Association captives are counted together under “group”.

For helpful background on how the data is gathered and measures taken to establish a consistent framework for counting captives, read a brief overview from Captive Intelligence.

If you represent a domicile or domicile association and are able to update and complete the data fields, please use this form to submit updated information. All data will be verified by CICA before it is published and will include the date and source of the update.

Number of pure / single parent captives as of 2022
342
Number of group / association captives as of 2022
2
Number of risk retention groups (RRGs) as of 2022
Number of sponsored / cell company captives as of 2022
11
Number of individual cells / series as of 2022
54
Total gross premium written and assets under management (AuM) as of year-end 2021
Gross premium: USD $2,141,990,076; AuM: USD $7,073,725,450
Types of captives allowed
  • Single parent captives
  • Association captives
  • Group captives
  • Protected cell/segregated portfolio companies
  • Risk retention groups
  • Special purpose captives
  • Special purpose financial captives
  • Microcaptives set up using 831(b) regulations*
Number of full-time employees in captive regulatory department
11
Premiums to surplus
Traditional insurance guidance recommended as a best practice.
Minimum capital (broken out by type of captive)

Pure captive, $250,000; industrial insured, $700,000; association captive, $750,000; sponsored captive, $500,000 with $200,000 from sponsor/core

Applicable Acts/Enabling Legislation
Utah Code Annotated Title 31A Chapter 37, Captive Insurance Companies Act
Contact information for captive Administrator
Speed of licensing
We request a week, or two at the most, to review the initial application assuming we have a full packet. If everything appears appropriate we issue a Certificate of Public Good which then puts the ball in the applicant's court to finish the process at their leisure; forming the corporation, capitalizing, executing finalized documents and paying the necessary fees.
Time given for operational plan changes
Are Exams done by own employees or by contract?
What is the examination cycle by type of captive?
5 years for all captive types; all may qualify for audit-in-lieu of examination.
Average/Estimated Exam Cost for Single Parent Captive
$4,000-$8,000
Average/Estimated Exam Cost for Risk Retention Group
State domicile association name and website

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