Federated States of Micronesia
- Total number of captives as of year-end 2022
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- Types of captives allowed
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- Single parent captives
- Group captives
- Protected cell/segregated portfolio companies
- 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 fees
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- Premium tax rate
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- Premiums to surplus
- 1.3 to 1
- Minimum capital (broken out by type of captive)
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Pure (with or without third party risk): $100,000
Multiple Corporate Captive (modified PCC): $1,000,000 core & $100,000 cell - Applicable Acts/Enabling Legislation
- FSM Insurance Act of 2006; Title 37 Code of Federated States of Micronesia
- Captive Administrator’s name and longevity in position
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- Speed of licensing
- 30 days
- Regulator
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- Address and contact information of Regulatory Department
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- Website Address
- https://www.fsminsuranceboard.com