Montana

 
Year captive legislation was passed
Sign in to see more data
Total number of captives as of year-end 2022
Sign in to see more data
Number of pure / single parent captives as of 2022
96
Number of sponsored / cell company captives as of 2022
15
Number of individual cells / series as of 2022
149
Total gross premium written and assets under management (AuM) as of year-end 2021
Gross premium: USD $468,287,830
Types of captives allowed
  • Single parent captives
  • Association captives
  • Protected cell/segregated portfolio companies
  • Risk retention groups
  • Special purpose captives
Number of full-time employees in captive regulatory department
3
Initial licensing and incorporating fees required by the domicile

?tooltip content

Sign in to see more data
Annual filing requirements
Sign in to see more data
Annual fees
Sign in to see more data
Premium tax rate
Sign in to see more data
Premiums to surplus
Applies to series captives only at a rate of 4:1 premiums to surplus.
Minimum capital (broken out by type of captive)

$250,000 for pure captives; $500,000 for association or industrial insured captives; $125,000 on pure reinsurance captives; $250,000 for protected cell captive insurance co. with less than 10 cells and homogeneous risk, otherwise $500,000; special purpose captives are capitalized at the Commissioner’s discretion.

Applicable Acts/Enabling Legislation
The most recent significant change to MT captive law is the adoption of dormant captive status. Allows for a captive insurance company, that is not a RRG, that meets the necessary standards to apply for a dormant captive insurance company certificate. This certificate of dormancy is only valid for a 5 year period and the dormant captive insurance company is responsible to maintain no less than $25,000 in capital & surplus and a $1,000 per year dormancy tax.
Captive Administrator’s name and longevity in position
Sign in to see more data
Speed of licensing
2-4 weeks
Regulator
Sign in to see more data
Address and contact information of Regulatory Department
Sign in to see more data
Website Address
https://csimt.gov/insurance/captive/