Delaware
- Year captive legislation was passed
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- Total number of captives as of year-end 2022
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- Number of pure / single parent captives as of 2022
- 291
- Number of group / association captives as of 2022
- 51
- Number of risk retention groups (RRGs) as of 2022
- 1
- Number of sponsored / cell company captives as of 2022
- 15
- Number of individual cells / series as of 2022
- 369
- Number of other types of captives (industrial insured, special purpose, SPFI, pooling, branch) as of 2022
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- Total gross premium written and assets under management (AuM) as of year-end 2021
- Gross premium: USD $4,500,000,000
- 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
- 30
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Initial licensing and incorporating fees required by the domicile
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- Annual fees
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- Premium tax rate
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- Premiums to surplus
- 3:01
- Minimum capital (broken out by type of captive)
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Minimum Capital & Surplus requirements follow: pure captive, $250,000; agency captive, $250,000; association, $250,000; branch, $250,000; special purpose, $250,000; industrial insured, $500,000; sponsored, $500,000, RRG: $1m. Minimum capital & surplus must be maintained in the form of cash, irrevocable letter of credit, or any other assets as approved by the Commissioner. The Commissioner has the discretion to prescribe additional capital & surplus.
- Applicable Acts/Enabling Legislation
- Chapter 69 of the Delaware Insurance Code
- Captive Administrator’s name and longevity in position
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- Speed of licensing
- 30-45 days
- Regulator
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- Address and contact information of Regulatory Department
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- Website Address
- http://captive.delawareinsurance.gov/