Types of Captives


Statutory Min. C&S (§38-90-40 & 50)


Association Captive


Insures the risks of association members and affiliated companies.

Branch Captive


A branch of an existing alien insurer which is licensed to write business in this state.

Pure Captive


Insures the risks of its parent, subsidiaries, and affiliates

Risk Retention Group


Insures the liability-only risks of its owner/insureds. 

Special Purpose Captive

Case by case basis

A captive that does not meet the definition of any other type of defined captive. 

Special Purpose Financial Captive


Created to facilitate insurance securitization and other similar transactions which enable insurers to improve capital utilization.

Sponsored Captives*


A captive that offers protected cells which may be incorporated or unincorporated. 

*Under certain circumstances, the minimum capital and surplus for sponsored captives can be reduced to $300,000.