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, as of 12/31/2018
- 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
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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