Montana
- Year captive legislation was passed
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- Total number of captives as of year-end 2024
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- Number of pure / single parent captives as of 2024
- 81
- Number of group / association captives as of 2024
- 1
- Number of risk retention groups (RRGs) as of 2024
- 7
- Number of sponsored / cell company captives as of 2024
- 3
- Types of captives allowed
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- 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
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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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- 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)
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$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
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- Speed of licensing
- 2-4 weeks
- Regulator
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- Address and contact information of Regulatory Department
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- Website Address
- https://csimt.gov/insurance/captive/