US CAPTIVE DOMICILE ROUND-UP STATE
NAME OF REGULATORY CONTACT
ALABAMA
NAME OF CAPTIVE LEGISLATION
YEAR LEGISLATION PASSED RECENT AMENDMENTS
DO YOU ALLOW CELLS
TOTAL NUMBER OF LICENSED CAPTIVES
NUMBER OF LICENCES GRANTED IN PAST YEAR
Sean Duke Alabama Captive Insurers Act
ARKANSAS
Kimberly Johnson
Acts 2001, No. 1391, §
2006
Act 2008-391 Alabama Coastal Captive Insurance Company Act
2001
2003, No. 466 (SB 424), §1; 2005, No. 2005, No. 506 (SB 369); § 30, eff. 3-2- 2005.
Yes 10 5
Yes
One
None
ARIZONA
Stephanie Lefkowski
Arizona Revised Statutes Title 20 Chapter 4 Article 14 Captive Insurers
2001
None
Yes
96 captives maintain an active licence at December 31, 2010.
Eight
CONNECTICUT Maura Welch
Public Act 08-127 An Act Concerning Captive Insurance Companies (Senate Bill 281)
2008
N/A
No
None
None
DELAWARE
Steve Kinion Title 18. Insurance Code, Chapter 69. Captive Insurance Companies
Original legislation was passed in the mid- 1980s. Amended June 2005; Amended June 2007; and Amended June 2010
DISTRICT OF COLUMBIA
Dana Sheppard
The Captive Insurance Company Act of 2004
2004
Added Agency & Branch Captive structures in June 2010.
Yes
As of 12/31/10 is 95 and as of 1/1/11 is 97.
46 captive licences and 32 series business units.
No amendments in 2010. The Captive Insurance Company Act of 2004 substantially revised several aspects of the original captive law, including permitting incorporated cells, lowered the premium tax rates and established a maximum premium tax cap, liberalised the provisions related to investments and authorised reinsurers, and lowered the minimum capital and surplus for all captives. The Special Purpose Financial Captive Authorization Act of 2006 authorised the formation of captives insurers to facilitate insurance securitisations. The Captive Insurance Company Amendment Act of 2006 amended the 2004 act to enhance the formation and regulation of protected cell captives.
HAWAII
George Sumner
Act 253, Session Laws of Hawaii, 1986
1986
2010: 1. Amend Hawaii Revised Statutes (HRS) § 431:19-108(a) to allow examination of captive insurers every five years (formally three) or as often as the Commissioner deems appropriate, except that class 3 risk retention captive insurers must be examined within three years of its formation. 2. Amend HRS § 431:19- 109(a)(2) to delete the reference to a repealed section, HRS § 431:19-105. 3. Amend HRS § 431:19-303 to add a new paragraph allowing protected captive cells to be organised in any business form, i.e. C-Corp., S-Corp., Trust, LLC, etc.
Yes
There are currently 87 active captives and 13 active cells. Cells are licensed, regulated and taxed as separate entities in DC.
15
Yes
168 as of March 1, 2010
12
52 US Captive . April 2011
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