Total number of captives
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Gross written premium for all captives
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Total number of active captives, as of the prior year
Types of captives allowed
  • Single parent captives
  • Association captives
  • Group captives
  • Protected cell/segregated portfolio companies
  • Special purpose captives
  • Special purpose financial captives
Premium tax rate
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Minimum capital (broken out by type of captive)

The minimum capital requirement is based upon the higher product of a set of formulas calculated as factors of premium volume and policyholder obligations (i.e. total (re)insurance reserves), subject to respective floors. The floor for Class 1 (single-parent insuring only risks of parent and affiliates) is $120,000; the floor for Class 2 (a multi-owner captive insuring the risks of its owners or affiliates of the owners; or a single parent or multi-owner captive: (i) insuring the risks arising out of the business or operations of the owners or affiliates, and/or (ii) deriving up to 20.0% of its net premiums from unrelated risks) is $250,000; the floor for Class 3 (captive insurers underwriting more than 20.0% and less than 50.0% unrelated business) is $1 million.

Applicable Acts/Enabling Legislation
The primary legislation relating to insurance business is the Insurance Act 1978, as amended, and related regulations.
Captive Administrator’s name and longevity in position
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Address and contact information of Regulatory Department
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Website Address