Captive Resource Center

Businesses and Associations

Research & Information

Miscellaneous

Captive Domicile Showcases

Be sure to scroll all the way down this page for links to an enormous repository of helpful information on US and Non-US Domiciles!

You asked and we delivered. With the generous sponsorship of Wilmington Trust for all captive.com developed domicile information, we are pleased to bring you statistical data for major US and offshore domiciles.

• Full year report: January 1 - December 31, 2010
  • High resolution pdf (5 meg file)
  • Standard resolution pdf (543 K file)
• Six month update, January 1 - June 30, 2010

A few of the less active domiciles did not reply to our requests for data, so they have been eliminated from both reports.

We hope you enjoy these updates. If you have any suggestions for data you would like to see on later reports that will include numeric data fields, please e-mail us.

Fast Links to Domicile Legislation (along with editorial notes)

Captive.com sends its thanks to Carol Pierce of Munich Re -- a captive.com Silver Member -- for assisting us in finding many of these links. If you know of additional links that would be helpful, or if you find a better link than the ones we offer here, please e-mail us with your suggestions for additions and changes. Editorial comments following each link come from both Carol Pierce and Chris Mancini of captive.com. Non-US Domiciles: [Editor's note: A few of these links were so long that formatting issues forced us to substitute a text message, "Click here for link" rather than printing the actual link. We hope this does not inconvenience you.] Aland http://www.aland.fi/ This website is in Swedish. Anguilla The Anguilla insurance website is well-designed and easy to navigate. Here are 3 links you'll find helpful: http://www.fsc.org.ai/insurance.htm -- Insurance Act of 2004. http://www.fsc.org.ai/Insurance%20Regs%202004.pdf -- Insurance Regulations of 2004, along with guidance notes http://www.fsc.org.ai/protcell.htm -- Protected Cell Act of 2004. Bahamas Captive Insurance in the Bahamas is a good summary page with contacts you will like. Also see New Draft Insurance Legislation. Bermuda http://www.bermudalaws.bm/ All official Bermuda laws (full text) are on this site. You can also link to this site from the Monetary Authority website http://www.bma.bm/legislation/index.html 1-26-2011 alert: Bermuda Monetary Authority Fee Increase for Insurance Entities shared with us by Appleby BVI Effective 1 February 2010 2008 Insurance Act 2009 Insurance Regulations 2009 Regulatory Code British Columbia, Canada http://www.fic.gov.bc.ca/statutes.htm For full text of captive law, see http://www.qp.gov.bc.ca/statreg/stat/I/96227_01.htm Also see: http://www.canadiancaptive.com/Default.aspx?pageId=310245 for the Insurance Act and Regs as supplied by the CCIA. Cayman Islands http://www.cimoney.com.ky/regulated_sectors/reg_sec.aspx?id=92&ekmensel=e2f22c9a_14_82_btnlink. From this page, you will have access to all the information you will need to domicile your captive in the Cayman Islands. Easy to navigate -- congratulations, Cayman! Dublin We just requested a direct link to Ireland's legislation and regs (we couldn't find them), but we did find a nifty checklist for those companies interested in establishing a captive, which is available from http://www.financialregulator.ie/industry-sectors/insurance-companies/non-life-insurance-companies/pages/authorisation.aspx and http://www.financialregulator.ie/industry-sectors/insurance-companies/reinsurance-companies/pages/authorisation.aspx. As soon as we have the link to the captive legislation, we'll pass it along. Also see Ireland’s international re/insurance market factsheet 2010 Gibraltar http://www.fsc.gi/fsclists/publications.asp?Section=2&Type=4 Unofficial copies of regs. Official regs are available at no cost at http://www.gibraltarlaws.gov.gi Guam http://www.guamattorneygeneral.com/gca/22gc023.pdf Captive law is online in its entirety in pdf format. Because this link no longer produces anything, we have inactivated it while we make a few inquiries to our contacts in Guam. An updated link, if it exists, will be up and running soon. Guernsey http://www.gfsc.gg/content.asp?pageID=91&menuOpen=2&submenuOpen=2.5 Hundreds of pages of regulations at this location. Hong Kong http://www.info.gov.hk/oci/text/ideal/ A very easy-to-navigate website with links to both summary data and full legislation. Ireland Website currently under construction. Isle of Man http://www.gov.im/ipa/insurance/InsuranceRegulations.xml Official regs online. Also, includes proposed regs and who to contact if you have comments. Jersey http://www.jerseylegalinfo.je/Law/LawsInForce/alphabetical.aspx You can link from the Financial Services Commission site http://www.jerseyfsc.org/ under insurance. Official regs online. Labuan http://www.lofsa.gov.my/lofsa5/labiofc/offinsure/insurancet.htm Official regs online. Also, have pdf synopses. Liechtenstein Click to link Official regs on line in German Luxembourg http://www.lff.lu/actors/insurance-reinsurance-companies/captive-reinsurers/ for info in English. Two links are embedded in the paragraphs you will find on this page. http://www.commassu.lu/FR/documents/reglements.asp Regs are posted in French. Malta All new info, posted October 2010. Also, see below for info on redomiciling and captive set-up. Overview Legislation, regulations and more -- a very helpful menu, giving access to all you need Directives Mauritius http://www.fscmauritius.org/homeframe.html Unofficial copies of regs are available in read-only Word documents Nevis AMS Group to the rescue with downloadable forms from this page on their website. New Zealand Summary: http://www.nzcia.org.nz/legislation.htm New Zealand's insurance legislation is called the "Insurance Companies Deposit Act." It does not distinguish between a captive and a normal New Zealand insurance company. The environment is favourable for captive insurance companies. The government website is unwieldy, but you can follow this link, then open "I" (for insurance acts), and click on the Insurance Companies' Deposit Act 1953: http://www.legislation.govt.nz/browse_vw.asp?content-set=pal_statutes&clien. Panama http://www.mici.gob.pa/seguros.php Regs are all online in Spanish. Should you need assistance with translation, we can help. QFCA - Qatar Financial Centre Authority Legislation and Forms Singapore (links revised 4/10/07) Singapore Statutes Online More useful links from the Singapore Monetary Authority website: Monetary Authority Insurance Links Page Captive legislation and regs in pdf Captive Application St. Kitts To St. Kitts Financial Services Law Library Download Captive Legislation St. Lucia http://www.stluciaoffshore.com/legislation/legislation.htm Turks & Caicos The T&C website is done in "frames," so we cannot give you a direct link to their legislation on the website. Visit Turks & Caicos and select "insurance" from the top menu. You will see the link to the legislation and more. For your convenience, we have downloaded a copy of the 2004 legislation in pdf. This is correct as of November 2007, but we may not know when T&C updates this, so before relying on this document, be sure to check the website to ensure that this is the most recent legislation. Follow this link to download directly. Vanuatu To Vanuatu Captive Insurance Website All legislation, regs, apps, etc. are available in English and French. A well-organized, easy-to-navagate website!   Fast Links to US Domicile Legislation Federal Reg. FEDERAL LIABILITY RISK RETENTION ACT OF 1986, 15 USC 3901-3906 (1981, as amended 1986), downloadable in pdf Alabama Links to captive-related information and application forms Download captive law: http://www.aldoi.gov/PDF/Legal/ACT06509SB0305.pdf Arizona http://www.azleg.state.az.us/ArizonaRevisedStatutes.asp?Title=20. Scroll down the page to Article 14, Captive Insurers. All the links that you will need are at that location. May 2009, also see ARIZONA CAPTIVE INSURANCE DIVISION REFERENCE GUIDE Arkansas http://www.insurance.arkansas.gov/finance/captivepage.htm A well-organized website that gives clear links to all regs as well as contact information. Colorado http://www.dora.state.co.us/insurance/regs/2-3-1.pdf Connecticut Follow this link for a downloadable version of Connecticut's captive legislation, SB 281, enacted on June 2, 2008. Additionally, see information on Risk Retention Groups on the easy-to-navigate Connecticut Insurance Department website, offering insurance legislation and regs. As of 7/2/08, the website is not yet updated with the captive legislation. Delaware House Bill 314, providing for Agency and Branch Captives (May 12, 2010) Delaware Legislation and Regulations The Delaware Captive Bureau website, updated in January 2011. DCIA resources District of Columbia (links amended April 1, 2007) Menu of links to captive and RRG info: http://www.disb.dc.gov/disr/cwp/view,a,1300,q,633951,disrNav,%7C32821%7C,.asp Captive Insurance Company Amendment Act of 2006: http://disb.dc.gov/disr/frames.asp?doc=/disr/lib/disr/news_room/regulation/Captive_Insurance_Company_Amendment_Act_of_2006.pdf Special Purpose Financial Captive Authorization Amendment Act of 2006: http://disb.dc.gov/disr/frames.asp?doc=/disr/lib/disr/news_room/regulation/Special_Purpose_Financial_Captive_Authorization_Amendment_Act_of_2006.pdf Regulations: http://disb.dc.gov/disr/frames.asp?doc=/disr/lib/disr/news_room/regulation/captive.pdf&group=1632   Florida December 2011: Florida is joining many of the other states in contemplating captive insurance legislation. Follow this link to view the bill's progress so far. If you have in interest in following this legislation going forward, you can register to track this bill; if not, we'll do it for you! For your convenience, here is the direct link to the bill in downloadable pdf. Georgia Downloadable pdf files, posted October 2006. Please check with your local captive consultants for any subsequent changes to the captive law or regulations before proceeding with your captive: GA Captive Legislation GA Captive Regulations Application for a Captive Insurance Company in the State of Georgia Hawaii http://www.capitol.hawaii.gov/hrscurrent/Vol09_Ch0431-0435E/hrs0431/HRS_0431-0019-0101.htm. Also, the HCIC website has direct links to specific summaries at http://www.hawaiicaptives.com/why_hawaii/law_19.html. Kentucky Kentucky. This link takes you to the main page for Kentucky Captive Insurance. The links to all captive-specific information are clear, and the website is extremely well-done. We suspect this has something to do with the enormous initial success of the domicile! For a direct link to statutes and regs, follow this link. Maine Legislation Links to forms Missouri This link leads to the Missouri Captive Insurance Program page. Here, you will find a terrific menu leading to everything your heart desires, including links to the 2007 and brand new 2009 legislation. Forms, procedures, and contacts are easily accessible from this clear, easy-to-navigate website. Our congratulations to Missouri on a job well done! Montana Captive Legislative News: Montana's Senate Bill 161 Officially Signed. To view SB 161 on Montana's Government Website, with its changes visible, follow this link. Also helpful, see a legislative history along with a summary of the current legislation on the ORG Captive Management website by following this link. http://sao.mt.gov/captives/index.asp All the links you need are available from this page, including the current law at http://data.opi.state.mt.us/bills/mca_toc/33_28.htm New York http://www.ins.state.ny.us/website3/captives/capart70.htm Links are provided to all subsections of the legislation. Another great page is called "Forming a captive in New York State." This page takes you step by step through the application process, supplying all the links you will need throughout. Excellent! Nevada 6/24/11 Captive Legislative News: Passage of Assembly Bill 74 Makes Nevada a More Competitive Captive Domicile. All changes to Nevada's captive legislation can be found in Sections 61 through 64 in AB 74 which are avaialble from this link: http://www.leg.state.nv.us/Session/76th2011/Bills/AB/AB74_EN.pdf http://doi.state.nv.us/CF-CaptiveInsurIndex.htm All links are available from this page from regs to application forms. New Jersey Laws and Regs -- Our kudos go out to New Jersey for a great job on the website. Very easy to navigate! Puerto Rico http://ocs.pr.gov/ocspr/index.php?option=com_content&view=article&id=22&Itemid=27 (Spanish and English information) http://ocs.pr.gov/enocspr/index.php?option=com_content&view=article&id=21&Itemid=5 (English article) An easy-to-navigate page with both summary data and specific legislation and regs in English and Spanish. Rhode Island http://www.dbr.state.ri.us/documents/rules/insurance/Refiled-Regulation95.pdf Downloadable pdf file with all you need to know. South Carolina South Carolina launched a new website in 2011 with much-improved navigation and accessibility! We love it! For general captives information, use this link: http://doi.sc.gov/captives/Pages/FormationandLicensing.aspx For legislation, regs, annual report info, and more, here's your best choice: http://doi.sc.gov/captives/Pages/FormationandLicensing.aspx South Dakota http://www.state.sd.us/drr2/reg/insurance/companies/captive.html At this point, this is only a summary page with a link to contact them for more info. Tennessee January 2012: Rules, databased searchable,/downloadable captive laws, forms, contacts, and a wealth of information are now available on the Tennessee Insurance Division - Captive Insurance pages here. This is a great website that is clear and easy to navigate. Utah The new Utah Captive Insurance website is available at http://www.captive.utah.gov/index.html. Navigation is easy, and you'll find all the contacts, laws and regs you need, along with some of the "softer" info you might like about the domicile. Excellent job on this website! Vermont Regulations: http://www.vermontcaptive.com/regulations.html Legislation: http://www.vermontcaptive.com/regulations/laws.html More on the way...

Other Valuable Domicile Resources:

• November 9, 2011: Guernsey remains an attractive proposition by Peter Niven, Chief Executive of Guernsey Finance. Captive managers continue to view Guernsey as an attractive domicile – and there is new evidence to support the claim.
  
  
• April 29, 2011: Cayman Islands Captive Industry Fact Sheet, published by IMAC. "As part of IMAC’s initiatives, IMAC’s Research and Development Committee has created a Fact Sheet on the Cayman Islands.  This document was created to provide a factual snapshot of the 2nd largest captive domicile in the world, the Cayman Islands.  Most people know that it’s the domicile of choice for medical malpractice captives, but did you also know that numerous other captive and alternative risk structures are also located in Cayman?  That that Cayman Islands are involved with a number of international regulatory associations?  That we did not experience any banking failures during the recent worldwide economic decline?  In fact, the Cayman Islands were recently assessed as having a well developed regulatory and legal framework..." [Download now]
  
  [Editor's note: Cayman's 2010 Fact sheet is still available from a link below, for comparison purposes]
  
  
• April 27, 2011: The Arizona Edge, written by Stephanie Lefkowski, is an in-depth look at Arizona as a captive domicile -- past, present, and future. The article gives statistical data from 2002 to the present, comparing Arizona to other domiciles, and even breaking down licensed captives into industry groups. Stephanie closes with a helpful outlook on the future of captive regulation in Arizona.
  
  
• April 4, 2011: Latest Malta Info sheet from Stanley Mifsud, General Manager, Island Insurance Management Services Limited. E-mail your questions to Stanley at: s.mifsud@islandins.com

  "It is my pleasure to forward you our latest info sheet dealing with the introduction of a 15% Tax rate for financial services expatriates in Malta.  This latest development aims at further enhancing Malta’s financial services sector and support the growth of Malta as a preferred European domicile for the establishment of captive, insurance and reinsurance operations..." [Download now]

• March 22, 2011: Qatar Financial Centre Authority Publishes New Research on Reinsurance in the Gulf -- GCC Reinsurance Barometer Shows Reinsurance Capacity Expected to Grow as Major Companies Position themselves for Future Growth.
  
  
• December 20, 2010: We have just posted a fine article written and shared with us by Ed Ianni, who currently serves as the director of strategic development for the State of Delaware Department of Insurance. This article was first published in the current issue of Voluntary Benefits Magazine.. Innovation at Work: Employers Creating Their Own Captive Insurers describes the evolving crossroads of benefits, captive risk management and capital planning. Ed articulates clearly and precisely how the Series LLC captive structure available in Delaware can become a powerful tool for the captive owner.
  
  
• December 3, 2010: Regulatory Bulletin 2010-03 -- NAIC Accreditation Requirements for Risk Retention Group Captives. Published by the Captive Division, Arizona Department of Insurance

  "The purpose of this Regulatory Bulletin is to notify you of new National Association of Insurance Commissioners’ (NAIC) accreditation requirements applicable to risk retention group captives (RRG captives). This Bulletin relates solely to requirements for RRG captives and does not apply to any other captive insurers. Arizona Department of Insurance Regulatory Bulletin 2005-7 is hereby amended, and superseded if inconsistent, by this Bulletin solely as it relates to RRG captives compliance with the specific provisions of Title 20 discussed herein..."

• October 2010 new information for Malta from J.M. Ganado Associates:
  • Malta Update
  • ‘G&A Guide to Redomiciling your Captive to Malta’
  • ‘G&A Guide to Setting up an Insurance Business in Malta”.
  • (Also see MFSA Note for Consultation on Draft Incorporated Cell Companies Regulations (April 26, 2010), Info Sheet #2 (August 09), Info Sheet #3 (October 09).
    
    
• Sept. 30, 2010 Cayman Regulatory Updates (All in printable PDF format):
  • Press Release: Cayman Islands Transparency Regime Recognised by Peers at OECD Global Forum
  • Remarks by the Premier, the Honourable W. McKeeva Bush to the Organisation for Economic Cooperation and Development Global Forum on Transparency and Exchange of Information in Singapore on 29 September 2010
  • Fact Sheet / Backgrounder -- The Cayman Islands International Cooperation Regime
    
    
• September 22, 2010: From the recent SCCIA Conference, download a luncheon slide presentation delivered by Marsh Management Service's Robert L. Johnson on behalf of the South Carolina Captive Insurance Association -- South Carolina Captive Economic Impact Report.
  
  
• September 22, 2010: The Delaware Advantage by Ed Ianni. This article appeared in the July 2010 edition of Captive Review. Captive.com is grateful to our friends at Captive Review for allowing us to share this article with our readers.
  
  The article discusses the unique synergy of captive risk management, trust and estate planning and family and business capital planning, utilizing some of the exportable Delaware advantages. 
  
  
• July 27, 2010: "An Open Letter to Sen. Carl Levin" from Anthony Travers, O.B.E., Chairman, Cayman Finance.
  
  "...Your Support for the group callling itself 'Business and Investors Against Tax Haven Abuse' necessitates this response. Your endorsement of that organization's recent report well might lend credibility to statements that are in error and recommendations that are misguided..." [Download full letter]
  
  
• May 15, 2010, Updated Version: Freedom in Captivity. This well-written white paper was written by Jan Dash and Herman Liburd from the law firm of Liburd and Dash. A portion of the paper is specific to the captive domicile, Nevis, but the vast majority of it comprises a cohesive "Captives 101" summary, which is always in high demand at captive.com.
  
  
• May 10, 2010: The NzCIA's Peter Lowe was asked to present an overview of the New Zealand Captive Insurance Industry to the IFSD Committee. The IFSD Committee is the Prime Minister of New Zealand's Task Force to review the opportunities for New Zealand with the creation of a Financial Service Hub. Follow this link to the NzCIA website's news page to download this presentation and view other articles of captive insurance interest.
  
  
• March/April 2010: Key Themes from the 2009 Cayman Captive forum -- Captive Insurance in the Cayman Islands: Stability in a world of uncertainty. In continued support of the successful Cayman Captive Forum, this successful event's main sponsor, -- KPMG -- has kindly provided a highlights brochure covering the key themes of the 2009 conference. The publication provides an overview of key topics for all to read and for those who attended, a useful reminder of the discussions and educational topics that took place. Should anyone require a hardcopy of the brochure, please e-mail Dara Keogh at KPMG darakeogh@kpmg.ky.
  
  
• 23 March 2010: Guernsey retains world leader status for captive insurance. ""Two new studies have reaffirmed Guernsey’s position as the leading captive insurance centre in Europe and among the top four in the world...." [To full story]
  
  
• 14 October 09: Briefing Note -- UK consults on Protected Cell Companies…..12 years after Guernsey led the way
  
  
• May 11, 2009: From the Arizona Department of Insurance, you can now download the ARIZONA CAPTIVE INSURANCE DIVISION REFERENCE GUIDE in pdf. This document is only a guide intended to assist you in the formation and ongoing operation of a captive insurance company in Arizona.
  
  
• March 18, 2009: Montana Legislature Passes Industry-Backed Captive Law.
  
  
• March 6, 2009: Cayman Islands Regulatory Announcements. Our thanks to Kerr, Russell & Weber for sharing this important update with captive.com's readers.

• October 2, 2008: Captives: Why the Isle of Man?
  
  
• July 16, 2008: The DCIA Interviews Delaware Captive Insurance Regulator William P. White, ARe. Fast links to important Delaware info are provided in this Question and Answer article!
  
  
• April 2008, White Paper on Captive Insurance Companies prepared for the Reserve Bank of New Zealand, prepared by the NzCIA. This is a good Captive Basics white paper, and contains helpful information on New Zealand as a domicile.
  
  
• September 11, 2007: Download this informational PowerPoint presentation from a session presented at the recent NzCIA Conference entitled, "New Zealand Captive Insurance Legislation -- The Future."
  
  
• July 27, 2007: The 2006 Captive Act Amendments: Revolutionizing Protected Cell Laws in the District by Stephen F. Donahoe, Muldoon Murphy & Aguggia LLP. On March 14, 2007, the District of Columbia amended its captive insurance laws by enacting the Captive Insurance Company Amendment Act of 2006 (the “2006 Amendments”). The 2006 Amendments update segregated cell provisions included in the District’s Captive Insurance Company Acts of 2000 and 2004 and offer clear advantages over other domestic domiciles with respect to protected cell flexibility. [more...]
  
  
• April 26, 2007 Guernsey Update: Guernsey – A Buoyant Captive Domicile On PCC’s Tenth Birthday.
  
  
• From Best Review Monthly Insurance Magazine, March 2007: Captive Island. Puerto Rico's long-time plan to become a haven for captive insurance companies is becoming a reality. This domicile is open for business! Copyright© 2007 A.M. Best, reprinted with permission. All rights reserved.
  
  
• Regulatory News: Mississippi House Bill 984 on Registration Fee for Risk Retention Groups. This house bill was sent to us by the good folks in Mississippi in the aftermath of a March 27 Captive Daily Wire Posting on RRG fees that was unclear as to which state was involved.
  
  
• A terrific article written by Conor Jennings entitled, "Virgin Captives" is awaiting you. This article features a solid introduction to captive basics, along with an explanation of numerous advantages offered to captives who domicile in the British Virgin Islands. Posted in November 2004.
  
  
• Protected Cell Captives in Malta -- Insurance Companies, Insurance Brokers & Insurance Managers
  
  
• Captive Governance 101 -- a presentation and supporting articles delivered at the Cayman 2003 Captive Forum by Monte Jahnke and a panel of experts, featuring governance issues for multiple domiciles, but with an emphasis on the Cayman Islands.