British Columbia

[Last updated: 26/07/16]
Regulatory contact:
Financial Institutions Commission (FICOM)
2800-555 West Hastings Street
Vancouver, BC
V6B 4N6
Telephone: 604 660-3555
Ficom@ficombc.ca
www.fic.gov.bc.ca

Name of Captive Legislation
Insurance (Captive Company) Act
Year Legislation Passed
1996

Recent Amendments
N/A

Do you allow Cell Captives?
No

Total Number of Licenced Captives  
20

Number of Risk Retention Groups or Group Captives
0

Number of Single Parent Captives
20

Number of Cell Captives
0

Number of licences granted in the past year (2015 calendar year)
Registration is renewed annually for each captive - 20

Approximate (or Average) length of time to process a new captive  
120 Days

Captive tax rates (include descriptions if needed)
Corporate tax rates: Federal: 15%, Provincial 11%

Premium tax rates: Variable

Minimum capitalisation rate  
$300,000

Licencing fees  
Annual renewal fee - $2,500

Total premiums received by the Captives
$22,102,300

Total value of assets under management
$280,000,000