Updated: July 31, 2020   (Source: David Provost, Deputy Commissioner, Captive Insurance )
Year captive legislation was passed
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Total number of captives as of year-end 2022
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Number of pure / single parent captives as of 2022
Number of group / association captives as of 2022
Number of risk retention groups (RRGs) as of 2022
Number of sponsored / cell company captives as of 2022
Number of individual cells / series as of 2022
Number of other types of captives (industrial insured, special purpose, SPFI, pooling, branch) as of 2022
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Total gross premium written and assets under management (AuM) as of year-end 2021
Gross premium: USD $29,976,641,132; AuM: USD $194,005,738,985
Types of captives allowed
  • Single parent captives
  • Association captives
  • Group captives
  • Protected cell/segregated portfolio companies
  • Risk retention groups
  • Special purpose captives
Number of full-time employees in captive regulatory department
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
No specific rules, but start with 3:1 and explain why a different leverage is appropriate.
Minimum capital (broken out by type of captive)

Pure: $250,000

Sponsored: $100,000

Association/Industrial Insured: $500,000

RRG: $1,000,000

SPFI: $5,000,000

Applicable Acts/Enabling Legislation
Title 8, Vermont Statutes Annotated, Chapters 141, 142, and 142a
Captive Administrator’s name and longevity in position
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Speed of licensing
30 days or less (45 days for SPFI) for a complete application.
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Address and contact information of Regulatory Department
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Website Address
Are Exams done by own employees or by contract?
Own employees
What is the examination cycle by type of captive?
5 years or more frequently as needed
Average/Estimated Exam Cost for Single Parent Captive
Average/Estimated Exam Cost for Risk Retention Group