Jeff Wilson, CPCU, ARe, captive insurance director at the Iowa Insurance Division, stated, "Our commitment is to provide a regulatory environment that is consistent, efficient, collaborative, and responsive. We aim not only to be a domicile of choice but also a trusted resource in supporting the long-term success of the captives that call Iowa home."
"SF 549 brings captives to a jurisdiction that already boasts a large and sophisticated insurance industry," the law firm Womble Bond Dickinson said in an advisory note. "With a modern, competitive bill that is comparable in many ways to the captive statutes of other jurisdictions, including with respect to premium taxes and fees, dedicated captive regulators and a robust underlying insurance industry, Iowa will be a captive domicile to watch."
While Iowa's captive sector is still in its early stages, the issuance of its first certificate of authority in 2025 marks its official entry as an active captive domicile. Combined with a strong insurance tradition, a competitive statutory framework, and a proactive regulatory approach, Iowa is well positioned to become an appealing choice for captive insurance companies in the Midwest and beyond. Captive statistics and additional updates are expected as the program develops.
Strategic Risk Solutions (SRS) was among the first to work directly with the Iowa Insurance Division during this initial licensing phase. "Collaborating with Jeff Wilson and his team to establish the first Iowa captive was seamless," said Daylan Staude, Strategic Risk Solutions. "Their professionalism and approachable demeanor made what could have been a complex process remarkably smooth."
Andrew Marson, also of Strategic Risk Solutions, added, "From the initial call through license issuance, Jeff and his colleagues were approachable, open to ideas, and responsive. The application process was efficient and communicative throughout. I look forward to working with them for years to come."
Cole Bakalar, assistant vice president, Alternative Risk Solutions, Lockton, shared a similar experience during the first formation process. "It was a pleasure working with Doug Ommen, Jeff Wilson, and the team on Iowa's first captive formation. Their competitive legislation and decision to fill their bench with legal and accounting expertise ensured prompt communication and a smooth application process. They were receptive to feedback—though little was needed—which was a pleasant surprise for a first-time domicile. We look forward to including Iowa in future captive evaluations."
T.J. Scherer, vice president at Spring Consulting Group, noted, "Iowa is in a unique position—an established insurance hub competing as a new domicile. Its proactive staffing and alignment with leading jurisdictions make it well positioned to attract formations and redomestications, especially from Iowa-based companies."
"One of Iowa's key advantages from the onset is its staffing," Mr. Scherer added. "Rather than simply passing legislation and waiting to see if companies would show interest, Iowa proactively brought on qualified individuals as it established itself as a domicile. This dedicated infrastructure should enable the application process to function similarly to that of more established domiciles, benefiting both applicants and service providers." He concluded, "It will be exciting to watch Iowa's progress in the captive insurance space."
Joe Streck, AVP of Consulting and Management at Innovative Captive Strategies, emphasized, "Iowa has long been a respected insurance hub. It was only natural, then, that the state recently passed captive legislation, assembling a top-notch regulatory team tailored to the unique needs of captive insurers.
"With a longstanding, established presence in the insurance industry, pro-business climate, and an experienced and responsive regulatory team, Iowa is well positioned to be a premier domicile and innovator in the ever-evolving insurance industry," he said.
