The Oklahoma Insurance Department’s Captive Insurance Division works hard to ensure that Oklahoma is the domicile of choice through modernized laws and regulations, business-friendly requirements and responsive staff.
Commissioner Mulready knows what it takes to build and run a successful captive through his thirty years of experience working in the insurance industry. Under his leadership, the Captive Insurance Division pledges to process completed license applications within 30 days, and will answer any questions you have by phone or email within one business day.
Oklahoma’s captive law includes:
- Premium Tax Cap of $100,000
- Low application and licensure fees
- No in-state annual board meeting requirement
- No in-state board member requirement
- No in-state manager requirement
- 1st year paid in capital and surplus of $150,000 for pure captives
- Optional Provisional Licensure
- First Dollar and Excess Worker’s Compensation as authorized lines
- Friendly and knowledgeable staff
The Captive Insurance Division is committed to making sure the state’s statutes and regulations keep pace with the changing needs of the captive insurance industry, and Commissioner Mulready is dedicated to providing regulation that is both innovative and stable.
Contact Andy Schallhorn, Deputy Commissioner of Financial Regulation & Chief Actuary, at 405-522-4969 or Andrew.Schallhorn@oid.ok.gov to arrange a meeting with the Captive Insurance Division staff to discuss your proposed captive.