Utah
- Year captive legislation was passed
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- Total number of captives as of year-end 2025
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- Total new captives in 2025
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- Total surrendered licenses in 2025
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- Number of pure / single parent captives as of 2025
- 354
- Number of group / association captives as of 2025
- 3
- Number of sponsored / cell company captives as of 2025
- 19
- Number of individual cells / series as of 2024
- 224
- Number of other types of captives (industrial insured, special purpose, SPFI, pooling, branch, agency) as of 2025
- 8
- Types of captives allowed
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- Single parent captives
- Association captives
- Group captives
- Protected cell/segregated portfolio companies
- Risk retention groups
- Special purpose captives
- Special purpose financial captives
- Microcaptives set up using 831(b) regulations*
- Number of full-time employees in captive regulatory department
- 11
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Initial licensing and incorporating fees required by the domicile
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- Annual requirements
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- Annual fees
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- Premium tax rate
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- Dividend Distribution for Surplus Allowance
- Yes upon approval.
- Minimum capital (broken out by type of captive)
-
Pure captive, $250,000; industrial insured, $700,000; association captive, $750,000; sponsored captive, $500,000 with $200,000 from sponsor/core
- Applicable Acts/Enabling Legislation
- Utah Code Annotated Title 31A Chapter 37, Captive Insurance Companies Act
- Captive Administrator’s name and contact information
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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://insurance.utah.gov/captive/
- State domicile association name and website
- Utah Captive Insurance Association, https://www.utahcaptive.org/