Puerto Rico

Total number of captives
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Number of captives (pure)
Number of individual cells/cell participants
Gross written premium for all captives
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Total number of active captives, as of the prior year
Types of captives allowed
  • Single parent captives
  • Association captives
  • Group captives
  • Protected cell/segregated portfolio companies
  • Special purpose captives
  • Special purpose financial captives
  • Microcaptives set up using 831(b) regulations*
Number of full-time employees in captive regulatory department
Annual fees
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Premium tax rate
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Premiums to surplus
For Class 1 pure captives: 5:1 or amount adjustable by surplus premium relationship to exposure; for Class 2 association captives: 5:1 or 3:1 regarding third party risk; for Class 3 protected cell company: 3:1.
Minimum capital (broken out by type of captive)

Minimum: $500,000 for Class 1 pure captives; $750,000 for Class 2 association captives; $1.5 million Class 3 protected cell companies; No statutory requirement for protected cells.

Applicable Acts/Enabling Legislation
Puerto Rico Insurance Code, as amended by Public Law Nos.399 and 400, signed Sept. 22, 2004, and effective March 22, 2005, as amended by Public Law 98 signed June 20, 2011, effective January 1, 2012; as amended Public Law 39 of March 18, 2014, effective April 17, 2014. Rules 80,81,82 and 100.
Captive Administrator’s name and longevity in position
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Time given for application process
14 days
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Address and contact information of Regulatory Department
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Website Address