Captive Domiciles

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Connecticut Licenses First Healthcare Liability Captive Insurer

The Connecticut Insurance Department announced the licensure of the state's first healthcare liability captive insurance company: Keystone Indemnity Company, Ltd. Michael Maglaras & Company advised Masonicare and Keystone on the re-domestication. Masonicare is Connecticut's leading provider of health care and retirement living communities for seniors.
August 10, 2017 Read More
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Rundown of Texas Law Updates Related to Insurance and Captives

During the 85th legislative session in Texas, a number of bills became law related to insurance and captives. The Texas Captive Insurance Association has produced a summary of these laws, including those coming into effect on September 1, 2017.
August 07, 2017 Read More
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North Carolina’s Captive Insurance Law Fuels Rapid Captive Growth

North Carolina's captive insurance program’s rapid growth is turning heads, both nationally and globally. Businesses are finding the state’s thorough but fair regulation a plus when it comes time to select a jurisdiction to domicile a captive insurance company. The law also provides for low formation and operations costs.
July 21, 2017 Read More
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Captive Domiciles Update Their Laws To Attract and Keep Captive Insurers

States with captive insurance laws are not resting on their laurels but are continuing to enhance those laws to attract new captive insurers and retain current ones with at least six state captive domiciles so far this year passing measures amending their captive statutes.
July 05, 2017 Read More
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Barbados Ranked Favorably and Adds 11 Captive Insurance Entities

Barbados was recognized by the Organization for Economic Cooperation and Development's (OECD's) Global Forum as a transparent and highly cooperative jurisdiction, receiving the ranking of "largely compliant" during 2016. The jurisdiction also recorded a net addition of 11 captive insurance entities for the fiscal year ended March 2017.
June 29, 2017 Read More
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Opportunities Enlarge as Texas Expands Its Captive Law

Governor Greg Abbott has signed House Bill 1944, which makes important changes to the Texas captive insurance law, opening up a variety of opportunities. This is the second consecutive session in which the Texas Legislature has made improvements to the captive statute since its enactment in 2013.
June 19, 2017 Read More
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Bloomberg and BDA: Bermuda Plays a Special Role in Global Economy

Michael Bloomberg, three-term former New York City mayor and founder of Bloomberg LP, commented on Bermuda's special role in the global economy at an invitation-only forum cohosted by the Bermuda Business Development Agency last week at Bloomberg headquarters and titled "The Future of International Business Deals: How To Position for Long-Term Growth."
May 22, 2017 Read More
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New Law Further Improves Montana Captive Insurance Regulations

Montana captive insurance regulations get a boost as Governor Steve Bullock signs into law Senate Bill 245. Among the positive changes enacted by the new bill includes removing the requirement that a reciprocal insurer have 25 or more persons domiciled in Montana.
May 11, 2017 Read More
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BDA Launches Bermuda Risk Directory

The Bermuda Business Development Agency (BDA) has launched a new digital portal targeting global insurance customers and connecting them to Bermuda’s top-tier market for risk coverage. The Bermuda Risk Directory website offers access to the island’s brokers as well as insurance, reinsurance, captive insurance, and insurance-linked securities sectors.
May 05, 2017 Read More
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New Vermont Captive Insurance Legislation Signed into Law

New legislation making improvements in Vermont's captive law has been signed by the governor. The new legislation adds agency captives to the list of captive types allowed in the US domicile. Other important changes include allowing broader accounting systems, expanding dormant captives, and clarifying risk retention group governance standards.
May 03, 2017 Read More
  Butler Students Bermuda-SF

First Student-Run Captive Insurance Company Launched in Bermuda

An American university has chosen Bermuda as the domicile for the first known student-run captive insurance company. This small captive insurer was launched by students enrolled in the Davey Risk Management and Insurance Program at Butler University's Lacy School of Business.
April 26, 2017 Read More
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Texas House Insurance Committee Advances Bill Improving Texas Captive Insurance Law

On April 18, the Texas House Insurance Committee approved legislation making improvements in the Texas captive insurance law. Among the six improvements would be credit for reinsurance ceded to non-affiliated and non-admitted reinsurers that meet the standards of the bill.
April 20, 2017 Read More
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Georgia To Amend Its Captive Insurance Company Act

Senate Bill 173 to the state of Georgia Captive Insurance Company Act was sent to the governor to sign. The bill incorporated revisions to certain provisions and definitions that clarify the Captive Insurance Company Act, impose minimum requirements for articles of incorporation, allow captives to be formed as limited liability companies rather than stock companies, place restrictions on agency captives, and provide for certain powers and requirements by the commissioner of insurance.
April 07, 2017 Read More
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Cayman Is Transforming into an International Insurance and Reinsurance Jurisdiction

With growing competition from new captive insurance domiciles, the Cayman Islands are evolving into an international insurance and reinsurance jurisdiction. This article summarizes the Insurance Managers Association of Cayman's (IMAC's) view of the transformation that is underway.
March 28, 2017 Read More
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Utah Posts YouTube Video on Legislative and Captive Issues

Presenters from the Utah Division of Captive Insurance and the Utah Captive Insurance Association discuss legislative events and captive issues in a 17-minute YouTube video.
March 02, 2017 Read More
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Montana's Proposed 2017 Captive Insurance Legislative Changes

Proposed legislative changes in Montana will make reciprocal formation easier and provide a mechanism to put captives into dormancy.
February 28, 2017 Read More
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The Number of Captive Insurers in 2016

Strategic Risk Solutions (SRS) has estimated the number of captives licensed in Bermuda, Cayman, and 18 US domiciles at year-end 2016. The estimates, as presented at the SRS webinar, “2017—A Pivotal Year for the Captive Market,” are provided in this article.
February 17, 2017 Read More
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Texas Captive Count Climbs to 34 with Captive Law Changes Possible

The 4th annual Texas Captive Insurance Association (TxCIA) Conference was held February 15–16, 2017. TxCIA announced the number of licensed Texas captives has climbed to 34. Also, several significant legislative changes are being considered by the 2017 Texas Legislature.
February 17, 2017 Read More
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Tennessee 2016 Captive Growth and 2017 Proposed Legislation

Tennessee experienced 24-percent growth in the number of risk-bearing entities in 2016, and new captive legislation has been proposed for 2017. This article reviews both.
February 07, 2017 Read More
  North Carolina Flag Against Blue Sky and Clouds

North Carolina Domicile’s Captive Insurance Company Program

North Carolina has reported more than 50-percent growth in the number of captives during 2016 from new formations as well as existing captives redomesticating to the state.
February 02, 2017 Read More