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 30-45 business days and will answer any questions you have by phone or email within 1-3 business days.
Oklahoma’s captive law includes:
- Optional Provisional Licensure to begin business on the day of filing the captive insurance company license application
- Premium Tax Cap of $100,000
- No in-state manager requirement
- No in-state board member requirement
- No in-state annual board meeting requirement
- Broad range of investment options and allowable coverages
- 1st year paid in capital and surplus of $150,000 for pure captives
- First Dollar and Excess Worker’s Compensation as authorized lines
- Experienced captive insurance regulators
Oklahoma Captive Law
Oklahoma Captive Insurance Statute – Title 36 O.S. §§ 6470.1-33
Captive Insurance Rules – 365:25-15-1 to 24
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 Steve Kinion, Director of Captive Insurance Division, at 918-704-8136 or Steve.Kinion.CTR@oid.ok.gov to arrange a meeting with the Captive Insurance Division staff to discuss your proposed captive.