Montana

 
Total number of active captives
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Number of active captives (pure)
119
Number of active captives (group/association)
3
Number of individual cells/cell participants
20
Gross written premium for all captives
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Total number of active captives, prior year
141
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
4.5
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)

$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 company 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 and also within department
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Time given for application process
2 weeks
Regulator
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Address and contact information of Regulatory Department
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Website Address
https://csimt.gov