For Immediate Release:
August 21, 2024
Oklahoma Insurance Department Named 2024 Domicile of the Year
OKLAHOMA CITY – The Oklahoma Insurance Department was named the 2024 Captive Domicile of the Year in the category of less than $5 billion in gross written premium. Each year, Captive Review magazine assembles a group of captive insurance professionals who select the top performers in captive insurance. The two captive domicile categories recognize excellence in the states for captive insurance regulation. Competing with Oklahoma for this award were the insurance departments in Connecticut, Delaware, North Carolina, South Carolina, and Tennessee.
This prestigious award highlights the department’s excellence in addressing captives’ needs through proactive regulation, service standards, and innovative initiatives with positive outcomes. The recognition reinforces Oklahoma’s growing appeal as a leading domicile for captive insurance companies and service providers. The state has experienced significant growth, with a net gain of 14 new captive insurers in the past year alone.
“We are humbled to be recognized by Captive Review for our service to the captive insurance community,” said Commissioner Glen Mulready. “With continued support from the Oklahoma Legislature, our dedicated internal team, and strong state-wide collaborations, Oklahoma is cementing its status as a premier captive insurance domicile.”
Steve Kinion, Director of the OID Captive Insurance Division, added, “The states with whom Oklahoma competed are all first-class insurance departments with highly regarded regulators. To be in their league and selected by a group of industry peers speaks volumes. Under Commissioner Mulready’s leadership, our commitment to enhancing Oklahoma’s captive insurance landscape has been unwavering, and this award is a testament to our collective efforts.”
For more information about OID’s Captive Insurance Division, contact Steve Kinion at 918-704-8136 or Steve.Kinion.CTR@oid.ok.gov.