CICA > Domiciles > Arizona

Arizona

 
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Arizona as a captive insurance company domicile, those words would be “impressive growth.”

Since 2015, the number of captives licensed in Arizona, as well as captive premium volume, have increased each year.

The growth in captive premium volume has been especially impressive. In 2018, the last year information is available, Arizona captives generated $9.2 billion in premiums, up nearly 20 percent since 2015.

Year captive legislation was passed
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Total number of active captives
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Number of active captives (pure)
106
Number of active captives (group/association)
7
Number of active captives (RRG)
11
Number of individual cells/cell participants
3
Gross written premium for all captives
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Total number of active captives, as of 12/31/2018
124
Types of captives allowed
  • Single parent captives
  • Association captives
  • Group captives
  • Risk retention groups
Number of full-time employees in captive regulatory department
3
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
Varies based on risk profile
Minimum capital (broken out by type of captive)

Pure = $250,000, others generally $500,000

Applicable Acts/Enabling Legislation
A.R.S. 20-1098 et seq.
Captive Administrator’s name and longevity in position and also within department
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Time given for application process
30 calendar days from complete application.
Regulator
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Address and contact information of Regulatory Department
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Website Address
https://www.azinsurance.gov
Are Exams done by own employees or by contract?
Contract
What is the examination cycle by type of captive?
No routine exams except for captive RRGs (generally every five years)
Cost of exam range by pure? Average price?
Varies
Cost of exam range by RRG? Average price?
Varies