Connecticut
- Year captive legislation was passed
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- Total number of captives as of year-end 2024
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- Total new captives in 2024
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- Number of pure / single parent captives as of 2024
- 59
- Number of group / association captives as of 2024
- 6
- Number of sponsored / cell company captives as of 2024
- 16
- Number of individual cells / series as of 2024
- 100+
- Types of captives allowed
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- Single parent captives
- Association captives
- Group captives
- Protected cell/segregated portfolio companies
- Risk retention groups
- Special purpose captives
- Special purpose financial captives
- Number of full-time employees in captive regulatory department
- 3
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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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- Minimum capital (broken out by type of captive)
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The minimum capital requirements for these structures are: pure and special purpose financial, $250,000; sponsored and sponsored licensed as a special purpose financial vehicle, $225,000; association, industrial insured, $500,000; risk retention group, $1 million. Commissioner has authority to require reduced capital amounts according to the captive’s risk profile.
- Applicable Acts/Enabling Legislation
- CGS Sec. 38a-91aa - Sec. 38a-91tt; Chapter 698c Secs. 38a-250 to 38a-270 Risk Retention Groups
- Captive Administrator’s name and longevity in position
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- Speed of licensing
- 1-4 weeks
- Regulator
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- Address and contact information of Regulatory Department
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- Website Address
- https://www.ct.gov/cid