Captive Domiciles

  Connecticut Flag

First Sponsored Captive in Connecticut Formed by SOBC

Connecticut Insurance Commissioner Katharine L. Wade has announced the licensing of the state’s first sponsored captive, SOBC Insurance Company Ltd. The company is the eighth captive licensed by Connecticut.
June 01, 2015 Read More
  Texas Capitol Building Austin

Texas Legislature Approves Captive Risk Pooling

The Texas Legislature has approved legislation (S.B. 667) designed to encourage smaller companies to create or re-domesticate captives to Texas.
May 29, 2015 Read More
  Utah-Map

Utah Captive Insurance Director Reports to UCIA on 2015 Changes

Several captive-related legislative changes are on the horizon and will contribute to Utah's "business-friendly environment," members of the Utah Captive Insurance Association (UCIA) learned when they met Monday at the Western Region Captive Insurance Conference.
May 12, 2015 Read More
  Barbados map

Barbados: “Gateway to Latin America” and Its Concerns for the Future

The Barbados International Finance & Business 2015 edition has several excellent captive-related articles recommended for reading.
May 11, 2015 Read More
  Vermont State Capitol

Vermont Enacts Captive Statute Revisions

Vermont Governor Peter Shumlin on May 7 was expected to sign new captive legislation, the most significant groundbreaking change of which is to allow marketable securities along with cash, trusts, and letters of credit to meet the minimum capital requirement.
May 07, 2015 Read More
  Document Signing

District of Columbia Revises Captive Insurance Company Act

The District of Columbia’s Captive Insurance Company Amendment Act of 2014 became effective March 10, 2015, following the end of the 30-day congressional review period.
April 22, 2015 Read More
  Montana Flag

Montana Revises Captive Statutes

Montana Governor Steve Bullock has signed two captive-related legislative bills, one of which will now allow public-sector entities to establish captive insurance companies in the state.
April 16, 2015 Read More
  Texas

Texas Captive Legislation Advances

Captive legislation has advanced in both the Texas House and the Texas Senate.
April 06, 2015 Read More
  Vermont State Capitol

Vermont Captive Legislative Proposal Progresses

A bill that, if passed, would change some restrictions for establishing a captive in Vermont is progressing through the state's legislative process.
March 23, 2015 Read More
  Tennessee Flag

Tennessee Captive Legislative Proposal

Michael Corbett, director of the Captive Division of the Tennessee Department of Commerce and Insurance, has indicated that his department is seeking a change in the captive statutes at the current legislative session. The change would delete a provision that effectively did not permit the taxation of protected cell captive insurance companies after they included more than 10 cells. The clarifying legislation will result in a tax of $10,000 per cell and $5,000 per cell for all cells in excess of 10.
March 19, 2015 Read More
  TxCIA Conference 2015

Texas Captive Insurance Scene Is Becoming Lively

The second annual meeting of the Texas Captive Insurance Association (TxCIA) in Austin sported a lively group of active captive practitioners, captive owners, and prospective captive owners. Approximately 110 people attended, which was approximately the same as last year. TxCIA representatives were pleased with this attendance level and delighted that 55 people attended the optional “Captives 101 Workshop,” since their goal was to have at least 10 people attend it.
February 27, 2015 Read More
  Karen Weldin Stewart

Delaware Captive Domicile Update

The Delaware Department of Insurance issued a press release outlining its success in 2014. Insurance Commissioner Karen Weldin Stewart stated, “I am very pleased that the captive program continues to grow. This program provides economic opportunities for my constituents and much needed revenue for the state.”
February 20, 2015 Read More
  Cayman Islands Beach Ocean

Cayman Adds 22 New Captives in 2014

The Cayman captive industry enjoyed steady, sustained growth in 2014, with 22 new captives formed. The total number of captives domiciled in Cayman was 759 as of December 31, 2014, with pure captives representing 415 of these and a further 139 being segregated portfolio companies, writing total premiums of US$12 billion and holding total assets of US$51.5 billion.
February 11, 2015 Read More
  Texas

TxCIA Seeks Changes in Texas Captive Law

The Texas Captive Insurance Association (TxCIA) has initiated legislation being introduced by Representative John Smithee (R-Amarillo) to expand the provisions of the captive insurance law that was originally enacted in 2013.
February 09, 2015 Read More
  Washington DC Skyline

Consider Future Financial Exam Costs When Choosing a Captive Domicile

Financial exam fees passed through to captive insurers vary from domicile to domicile; consider them in feasibility studies.
February 05, 2015 Read More
  Oklahoma Flag

Oklahoma Insurance Department Reports Exceptional Captive Growth

Oklahoma issued 37 new captive licenses in 2014 under the state’s new captive insurance regulation and streamlined licensure procedures, according to an announcement from Oklahoma Insurance Commissioner John D. Doak.
February 02, 2015 Read More
  Hawaii Beach Oahu

Hawaii's Captive Portfolio Grows in 2014

Hawaii added 15 new captives to its domicile in 2014 and had 5 deletions for a net growth of 10 captives or about 5.5 percent. The construction and real estate industry group represents approximately 38 percent of the total captive owners. The telecommunications and manufacturing and healthcare industry groups each represent about 18 percent of the captive owners.
January 30, 2015 Read More
  Arizona

Arizona Captive Count Grows 8 Percent in 2014

The Captive Division of the Arizona Department of Insurance reported that, as of year-end 2014, it has 114 licensed captives, a net increase of 8 percent since the beginning of 2014. This 8 percent growth exceeded the increase of 6 captives and 6 percent growth in the prior year. Pure and pure-reinsurance captives represent 81 percent of the types of captives licensed. Group captives, including risk retention groups and association captives, comprise 13 percent of the total.
January 29, 2015 Read More
  line graph globe

Bermuda Has 57 Percent of Insurance-Linked Securities Market

The Royal Gazette quoted the president and CEO of the Bermuda Stock Exchange (BSX), Greg Wojciechowski, as saying that “… the outstanding amount of ILS (insurance-linked securities) issued in Bermuda represents 57 per cent of the worldwide stock of ILS.”
January 29, 2015 Read More
  Vermont State Capitol

Vermont Captive Quality, Premium Growth Continue

Vermont licensed 16 new captives in 2014, according to data released by the Vermont Captive Insurance Division. The new captives were made up of 10 pure captives, two sponsored, two special purpose financial insurers, one association, and one risk retention group. Two new captives were redomesticated from Bermuda and Delaware.
January 26, 2015 Read More