Alabama

 
Total number of active captives
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Number of active captives (pure)
37
Number of active captives (group/association)
3
Number of individual cells/cell participants
18
Gross written premium for all captives
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Total number of active captives, prior year
50
Types of captives allowed
  • Single parent captives
  • Association captives
  • Group captives
  • Protected cell/segregated portfolio companies
  • Risk retention groups
  • Microcaptives set up using 831(b) regulations*
Number of full-time employees in captive regulatory department
7
Initial licensing and incorporating fees required by the domicile

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Annual filing requirements (****Certfication Fee?)
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Annual fees
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Premium tax rate
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Premiums to surplus
At discretion of regulator.
Minimum capital (broken out by type of captive)

Pure, $250,000
Association, $500,000
Industrial, $500,000
Cell, $250,000
Ceciprocal, $1 million. Commissioner may require more or permit less based on type, nature and volume of business to be transacted.

Applicable Acts/Enabling Legislation
Title 27 Insurance; Chapter 31B, Alabama Captive Insurers Act.
Captive Administrator’s name and longevity in position and also within department
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Time given for application process
7-14 days
Regulator
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Address and contact information of Regulatory Department
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Website Address
https://www.aldoi.gov