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Initial Passing of Captive Legislation – 2006

Risk Services Approved Captive Manager Since – 2018

Approved Captive Types / Minimum Capital & Surplus –

  • Single parent captive
    $250,000
  • Association captive
    $750,000
  • Industrial insured captive
    $500,000
  • Risk Retention Group
    $1,000,000
  • Sponsored Captive
    $1,000,000
  • Reciprocal Captive
    $1,000,000

Number of Captives (as of 2017) – 50

Initial Passing of Captive Legislation – 2002

Risk Services Approved Captive Manager Since – 2003

Approved Captive Types / Minimum Capital & Surplus –

  • Single parent captive
    $250,000
  • Group captive
    $500,000
  • Agency captive
    $500,000
  • Risk Retention Group
    $500,000
  • Protected cell captive
    $500,000

Number of Captives (as of 2017) – 114

Initial Passing of Captive Legislation – 1984, rewritten in 2005

Risk Services Approved Captive Manager Since – 2007

Approved Captive Types / Minimum Capital & Surplus –

  • Single parent captive
    $250,000
  • Association captive – stock / Risk Retention Group
    $400,000
  • Association captive – mutual / Risk Retention Group
    $600,000
  • Agency or rental captive
       $400,000
  • Protected cell captive:  Set by Commissioner             

Number of Captives (as of 2017) –    1,279 including Series captives

Initial Passing of Captive Legislation – 2000 and rewritten in 2004

Risk Services Approved Captive Manager Since – 2001

Approved Captive Types / Minimum Capital & Surplus –

  • Single parent captive     
    $250,000
  • Group captive – Industrial insureds
    $500,000
  • Association captive
    $750,000
  • Risk Retention Group
    $1,000,000
  • Sponsored or leased capital captive
    $500,000
  • Special purpose captive
    $250,000

Number of Captives (as of 2017) – 138

Initial Passing of Captive Legislation – 1987

Risk Services Approved Captive Manager Since – 1990

Approved Captive Types / Minimum Capital & Surplus –

  • Single parent captive – reinsurance
    $100,000
  • Single parent captive – other
    $250,000
  • Association captive
    $500,000
  • Risk Retention Group
    $500,000
  • Sponsored or leased capital captive
    $1,000,000
  • Reinsurance or excess captive – Set by Commissioner             

Number of Captives (as of 2017) – 222

Initial Passing of Captive Legislation – 2001

Risk Services Approved Captive Manager Since – 2006

Approved Captive Types / Minimum Capital & Surplus –

  • Single parent captive
    $250,000
  • Association captive
    $500,000
  • Industrial insured captive
    $500,000
  • Special purpose captive
    TBD by Commissioner
  • Protected cell captive
    $500,000
  • Special purpose series LLC captive
    $50,000 in the core and not less than a 4-to-1 premiums to surplus ratio in each series business unit.
  • Reinsurance captive
    Half the capital requirement for same type of direct-writing captive

Number of Captives (as of 2017) – 186

Initial Passing of Captive Legislation – 1999

Risk Services Approved Captive Manager Since – 1999

Approved Captive Types / Minimum Capital & Surplus –

  • Single parent captive
    $200,000
  • Association captive
    $500,000
  • Risk Retention Group
    $500,000
  • Agency captive
    $600,000
  • Rental captive
    $800,000
  • Sponsored captive
    $500,000

Number of Captives (as of 2017) – 200

Initial Passing of Captive Legislation – 2013

Risk Services Approved Captive Manager Since – 2015

Approved Captive Types / Minimum Capital & Surplus –

  • Single parent captive
    $250,000
  • Association captive
    $500,000
  • Industrial insured captive
    $500,000
  • Risk Retention Group
    $1,000,000
  • Protected cell
    $250,000
  • SPFC                     
    $250,000
  • Special purpose
    $250,000

Number of Captives (as of 2017) – 217

Initial Passing of Captive Legislation – 2000

Risk Services Approved Captive Manager Since – 2003

Approved Captive Types / Minimum Capital & Surplus –

  • Single parent captive
    $250,000
  • Branch captive
    $250,000
  • Special purpose financial captive
    $250,000
  • Risk Retention Group
    $500,000
  • Association captive
    $750,000
  • Sponsored captive
    $1,000,000
  • Special purpose captive
    Set by Commissioner

Number of Captives (as of 2017) – 163

Initial Passing of Captive Legislation – 1978, rewritten in 2011

Risk Services Approved Captive Manager Since – 2014

Approved Captive Types / Minimum Capital & Surplus –

  • Single parent captive 
    $250,000
  • Special purpose financial captive
    $250,00
  • Group captive – industrial insured
    $500,00
  • Association captive
    $500,00
  • Protected cell captive
    $500,000
  • Risk Retention Group
    $1,000,000

Number of Captives (as of 2017) – 161

Initial Passing of Captive Legislation – 1981

Risk Services Approved Captive Manager Since – 1981

Approved Captive Types / Minimum Capital & Surplus –

  • Single parent captive
    $250,000
  • Association captive
    $500,000
  • Industrial insured captive
    $500,000
  • Agency captive
    $500,000
  • Risk Retention Group
    $1,000,000
  • Sponsored captive
    $250,000

Number of Captives (as of 2017) – 1,112

Initial Passing of Captive Legislation – 1978

Risk Services Approved Captive Manager Since – 1995

Approved Captive Types / Minimum Capital & Surplus –

  • Class 1 – single parent
    $120,000
  • Class 2 – group
    $250,000
  • Class 3 – more than 20% 3rd party business
    $1,000,000

Number of Captives (as of 2017) – 1,140

Initial Passing of Captive Legislation – 1989

Risk Services Approved Captive Manager Since – 2013

Approved Captive Types / Minimum Capital & Surplus –

  • General Insurer
    $180,000
  • Long term/Life
    $100,000

Number of Captives (as of 2017) – 66