Alabama
- Year captive legislation was passed
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- Types of captives allowed
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- Single parent captives
- Association captives
- Group captives
- Protected cell/segregated portfolio companies
- Risk retention groups
- Number of full-time employees in captive regulatory department
- 7
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Initial licensing and incorporating fees required by the domicile
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- Annual filing requirements
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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)
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Pure, $250,000; association, $500,000; industrial, $500,000; cell, $250,000; reciprocal, $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
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- Speed of licensing
- 15-30 days
- Regulator
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- Address and contact information of Regulatory Department
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- Website Address
- https://www.aldoi.gov