Hawaii’s 30 years of Experience and Aloha established a highly respected domicile worldwide and the premier domicile of the Pacific Region. Our partnership approach working with captive owners and the industry offers a stable and prudent domicile for captive organizers ensuring the continued success of Hawaii captive programs in this rapidly changing area.

[Last updated: 20/07/16]
Regulatory contact:
Sanford Saito
335 Merchant Street, RM 213
Honolulu, Hawaii 96813
Telephone Number
(808) 586-0981
Email Address
captiveins@dcca.hawaii.gov
Website
cca.hawaii.gov/captive
Name of Captive Legislation
Hawaii Revised Statutes, Title 24, Chapter 431, Article 19
Year Legislation Passed
May 1986
Recent Amendments
Recent amendments were to add corporate governance requirements for captive risk retention groups required by the NAIC.
Do you allow Cell Captives?
Yes
Total Number of Licenced Captives
208 as of June 30, 2016
Number of Risk Retention Groups or Group Captives
16
Number of Single Parent Captives
180
Number of Cell Captives
6
Number of licences granted in the past year (2015 calendar year)
19
Approximate (or Average) length of time to process a new captive
30 Days
Captive tax rates
Tax Rate |
State Captive Premium Tax Rate |
0.25% |
$0 to $25 million |
0.15% |
$25 million to $50 million |
0.05% |
$50 million to $250 million |
0.00% |
$250 million and up |
Tax on captive’s premiums only. No Minimum Premium Tax. Maximum premium tax of $200,000.
No taxation of captive premiums if premiums were previously subjected to tax in jurisdiction where underlying risk is located or on reinsurance premiums assumed by captive.
Minimum capitalisation rate
Class |
Captive Class Description |
Minimum Statutory Requirements |
1 |
Single Owner; Reinsurance only |
$100,000 |
2 |
Single Owner; Direct and Reinsurance |
$250,000 |
3 |
Multi-Owner; Association or Risk Retention Captive |
$500,000 |
4 |
Sponsored Captive |
$500,000 |
5 |
Reinsurance or Excess Insurance Only |
Determined by Insurance Commissioner |
Minimum required capital and surplus determined by Insurance Commissioner based on each captive program.
Licencing fees
Initial Incorporation Fee $50
Captive Application Fee $1,000
Annual Business Registration Fee $15
Annual Captive License Fee
Class 1 and 2 $300
Class 3 $500
Class 4 and 5 $ 1,000
Industry sectors best represented in the domicile
Construction / Real Estate |
Health Care |
Telecommunications & Manufacturing |
Retail & Other Services |
Financial Services |
Transportation / Energy |
Top uses for Captives in the domicile
Commercial General Liability
Property
Auto Liability
Wokers’ Compensation
Professional Liability
Other
Total premiums received by the Captives
2015: US$4.34 Billion
Total value of assets under management
2015 not fully compiled yet.
As of 12/31/2014: US$18.83 Billion
Captive Insurance Managers registered to conduct business in domicile
Cinda Carbone
Executive Vice President
ACTIVE CAPTIVE MANAGEMENT, LLC
24422 Avenida De La Carlota, Suite 400
Irvine, California 92653
Robert Gagliardi
Regional Director – US Captive Operations
AIG INSURANCE MANAGEMENT SERVICES, INC.
30 Main Street, Suite 330
Burlington, Vermont 05401
Yumiko Saito
Senior Account Executive
AIG INSURANCE MANAGEMENT SERVICES, INC.
2 Waterfront Plaza, Suite 200
500 Ala Moana Blvd.
Honolulu, Hawaii 96813
Donald Rousso
President
ALTA HOLDINGS, LLC
17520 Von Karman Avenue
Irvine, California 92614
Karen Venner
Account Executive
AMETHYST CAPTIVE INSURANCE SOLUTIONS, INC.
150 Bank St, Suite 201
Burlington, Vermont 05402
Christina Kamaka
Vice President
AON INSURANCE MANAGERS (USA) INC
201 Merchant Street, Suite 2400
Honolulu, Hawaii 96813
Fay Okamoto
Division Senior Vice President
ARTEX RISK SOLUTIONS, INC
1357 Kapiolani Blvd., Suite 1430
Honolulu, Hawaii 96814
Matthew Takamine
Senior Vice President
BEECHER CARLSON INSURANCE SERVICES, LLC
American Savings Bank Tower
1001 Bishop Street, Suite 2788
Honolulu, Hawaii 96813
Colin Teraoka
Captive Insurance Manager
FIRST RISK MANAGEMENT SERVICES, INC
1100 Ward Avenue
Honolulu, Hawaii 96814
James Gordon and Gregory Petrowski
GPW & ASSOCIATES
2700 North Third Street, Suite 3050
Phoenix, Arizona 85004-1129
Scot Sterenberg
Vice President
MARSH MANAGEMENT SERVICES INC
Topa Financial Center Fort Street Tower
745 Fort Street, Suite 1100
Honolulu, Hawaii 96813-3800
Matthew Howard
MIJS CAPTIVE MANAGEMENT, LLC
326 Roswell Street
Marietta, Georgia 30060
Tony Schmidt
PACIFIC RISK SOLUTIONS, LLC
2897 Kalawao Street
Honolulu, Hawaii 96822
Wesley Sierk, III
President
RISK MANAGEMENT ADVISORS, INC.
444 W Ocean Blvd., Suite 1250
Long Beach, California 90802
Michael Stern
Chief Executive Officer
STERN RISK PARTNERS, LLC.
3900 S. Wadsworth Blvd., Suite 370
Lakewood, Colorado 90235
Ann Wick
President
STRATEGIC RISK SOLUTIONS (WEST), INC.
18835 N. Thompson Peak Parkway, Suite 220
Scottsdale, Arizona 85255
Craig Watanabe
Regional Manager
STRATEGIC RISK SOLUTIONS (WEST), INC.
Seven Waterfront Plaza, Suite 400
500 Ala Moana Boulevard
Honolulu, Hawaii 96813
Andrew Sargeant
President
USA RISK GROUP WEST, INC.
7580 E. Gray Road, Suite 101
Scottsdale, Arizona 85260
Jason Palmer
Regional Managing Director
WILLIS TOWERS WATSON PLC
Pauahi Tower
1003 Bishop Street, Suite 1220
Honolulu, Hawaii 96813