Alabama

 
Year captive legislation was passed
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Types of captives allowed
  • 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
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)

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