Regulation and Oversight

CNMI Establishes Captive Insurance Law, Expanding Regional Domicile Options

July 2, 2025

Commonwealth of the Northern Mariana Islands (CNMI) has enacted the Captive Insurance Act of 2025, establishing licensing, capitalization, and regulatory requirements for various captive structures, including pure captives, group captives, and protected cell companies. The law positions CNMI as a new domicile choice alongside other regional jurisdictions such as the Federated States of Micronesia. Read More


Louisiana Modernizes Captive Insurance Law with CHOICES Act

June 24, 2025

Louisiana has enacted Act 313, the Creating Holistic Options in Coverage for Enterprise and Self-Insurance (CHOICES) Law, modernizing its captive insurance framework. The law reduces capital requirements, introduces dormant and affiliated reinsurer structures, and defines risk retention groups. It also implements a tiered tax system, updated filing timelines, and broader definitions to align with current industry practices. Read More


Promoter of Captive Insurance Program Settles IRS Enforcement Action

June 18, 2025

Bruce Molnar agreed to pay Internal Revenue Service (IRS) penalties for promoting a captive insurance program in place from 2005 to 2012. The program was the subject of the Syzygy Tax Court decision, which found it did not qualify as insurance for tax purposes. The case reflects broader regulatory scrutiny of captive structures. Read More


Arkansas Moves Forward with State-Owned Captive to Insure Public Property

June 18, 2025

Arkansas has approved the formation of a state-owned captive insurance company to insure public schools, higher education institutions, and state agencies. Backed by $136 million in funding, the program centralizes risk and engages the reinsurance market directly to manage rising premiums and improve long-term property insurance stability. Read More


Bermuda Permits Captive Insurers to Use Stablecoins Under New BMA Policy

June 17, 2025

A recent Appleby insight outlines a new Bermuda Monetary Authority (BMA) policy allowing captive insurers to use recognized stablecoins for key functions. Limited purpose insurers may now hold stablecoins for premiums, claims, and capital—up to 25 percent of their base—subject to BMA approval, without requiring a digital asset license. Read More