Oregon Division of Financial Regulation

While Oregon is a relatively small captive domicile, the state has enjoyed significant captive growth over the last few years.

At the end of 2023, Oregon had 14 captive insurance companies. That is significantly higher compared to 2014, when the state had just 8 captives.

Oregon's captive premium volume has risen even more significantly. In 2023, for example, Oregon captives generated well over $1.082 billion in gross written premiums, which is well over 5 times more than in 2014, when the state's captive insurers reported just under $170 million in gross written premiums.

An important factor in Oregon's captive growth has been the responsive staff at the Oregon Division of Financial Regulation, captive experts say.

"There is a very friendly and responsive staff," said Robert Kabacy, a partner with the law firm Kell, Alterman & Runstein LLP in Portland, Oregon.

"The regulators have been just wonderful to deal with. While they are strict, they also are accessible and very responsive when clients have questions," said Keith Langlands, a managing member of Synergy Captive Strategies LLC in Las Vegas, Nevada.

Oregon insurance officials say they make it a point to be accessible.

"We have a business-friendly environment. We are easy to work with and are flexible. Our staff is very experienced," said Ryan Keeling, senior financial analyst with Oregon's Division of Financial Regulation in Salem, Oregon.

At the same time, Mr. Keeling notes, Oregon has a very attractive captive statute. For example, unlike many captive domiciles in other states, Oregon does not impose premium taxes on captives.

"We have no premium taxes," Mr. Keeling said.

To be sure, captives are assessed fees, but those fees are modest. For example, new captives have to pay a one-time $5,000 licensing fee, which also covers the annual certificate of authority renewal fee for a captive's first year.

Another requirement that captives have to meet includes, in the case of single-parent captives, maintaining a minimum of $250,000 in capital and surplus, while association captives must have at least $750,000 in capital and surplus.

Oregon's captive statute, which was passed in 2012, also requires a captive insurance company's board of directors to hold one annual meeting in the state.

In addition, captives have to file—no later than March 1—annual financial reports, while the Oregon Division of Financial Regulation examines all captives at least once every 3 years.

Oregon captives can write all lines of coverage except workers compensation, life, health, or any personal property or personal line of insurance.

Looking ahead, Mr. Keeling predicts "slow but steady growth" in the number of Oregon captives.

Company Contacts

Captive Analyst/Financial Analyst
(503) 947–7279

Mailing Address:
350 Winter St. NE
Salem, OR 97301

Virtual Contact:

Captive Domicile Summary

Oregon adopted captive insurance legislation in 2012. As one of the newest state domiciles, it touts its low fees, lack of premium taxes, ease of access to regulators, and the fact that it is currently the only West Coast state with captive insurance laws. Oregon has a well-developed infrastructure, a business-friendly environment, and a high interest in building a strong captive insurance industry presence within its borders.

Captive Domicile Statistics

Total Captive Count* Oregon
Year Captives
2023 14
2022 19
2021 20
2020 19
2019 21
*Only includes active captives and excludes cell captives, which are not authorized in Oregon.
Captives' Gross Written Premiums Oregon
Year Premium Volume
2023 $1.082 billion
2022 $1.025 billion
2021 $983.1 million
2020 $920.6 million
2019 $754.1 million