Ohio Department of Insurance

While Ohio is a very small captive insurance company domicile, the state has several key captive attractions, Ohio's top captive regulator says.

"The Ohio Department of Insurance works to foster a business environment of stability and growth for the captive insurance industry in Ohio," said Tracy Snow, chief of captive insurance with the Ohio Department of Insurance in Columbus.

At the same time, state regulators try to quickly respond to questions from current and prospective captive sponsors.

"We try to be as responsive as possible," Mr. Snow added.

Captive sponsors applaud state captive regulators for their accessibility and knowledge of their business.

The Ohio captive regulators "are very approachable and business friendly. They understand our business and the business of our captive," said Andy Seger, general counsel in Cleveland with Imprise Insurance Co., an Ohio captive that underwrites warranty coverages.

While Ohio's captive count is small—at the end of 2023 just 8 captives were licensed in the state—captive premium volume is substantial. In 2023, Ohio captives generated $3.5 billion in premium volume.

Under Ohio's 2014 captive statute, single-parent, protected cell, and special purpose financial captives can be set up. However, group or association captives are not permitted.

The minimum capital and surplus requirement for single-parent captives is $250,000, while protected cell captives must maintain at least $500,000 in capital and surplus.

A $500 captive application fee is charged, while captives also pay a $500 annual renewal fee.

Direct written premiums are assessed a flat .35 percent tax, while a flat .15 percent tax is assessed on reinsurance premiums. The annual minimum tax is $7,500, while the maximum annual tax is $250,000. Annual premium taxes are due March 2.

Other captive requirements include holding an annual board of directors meeting in Ohio, while the captive's manager must reside in the state.

Company Contacts

Chief of Captive Insurance
(614) 728–1263

Mailing Address:
50 W. Town St., Ste. 300
Columbus, OH 43215–4186

Virtual Contact:

Captive Domicile Summary

Ohio passed its captive insurance company act in June of 2014. As the most recent state to adopt captive legislation, Ohio hopes to capture a portion of the growing interest in captive insurance mechanisms. It stresses its business-friendly environment, reasonable licensing requirements, moderate premium taxes and fees, and responsive regulators.

Captive Domicile Statistics

Total Captive Count* Ohio
Year Captives
2023 8
2022 7
2021 6
2020 7
2019 6
*Includes cell captives.
Captives' Gross Written Premiums Ohio
Year Premium Volume
2023 $3.5 billion
2022 $1.2 billion
2021 $19.3 billion
2020 $1.0 billion
2019 $904.3 million