Oklahoma Captive Formations Continue To Rise

A significant number of new captives were licensed in 2023 in Oklahoma.

In 2023, the Oklahoma Insurance Department licensed 20 new captives. With 6 captive dissolutions, Oklahoma total captive count rose to 59.

Oklahoma's captive count now includes 34 pure captives, as well as 14 special-purpose captives. Other captives include cell and series captives.

"I commend the good work of Oklahoma's captive team, Captive Insurance Director Steve Kinion and Captive Insurance Analyst Victor Gallardo," said Oklahoma Insurance Commissioner Glen Mulready. "Steve is very experienced with captive insurance and highly respected in the industry. Victor represents the next generation of captive insurance leaders. They exemplify having a firm but fair approach to captive insurance regulation," Mr. Mulready added.