Illinois

[Last updated: 28/07/16]
Regulatory contact:
Marcy Savage
320 West Washington,  
Springfield,  
Illinois 62767
217-524-0016


Marcy.savage@illinois.gov

Insurance.illinois.gov

Name of Captive Legislation
Article VIIC – Domestic Captive Insurance Companies

Year Legislation Passed
1987-1988

Recent Amendments
1999-2000

Do you allow Cell Captives?
No

Total Number of Licenced Captives
2 - pure

Number of Risk Retention Groups or Group Captives
1

Number of Single Parent Captives
2 - pure

Number of Cell Captives
0

Number of licences granted in the past year (2015 calendar year)
1

Approximate (or Average) length of time to process a new captive
3 to 5 months

Captive tax rates
.5% of the net taxable premium written (Section 409)

Minimum capitalisation rate
$1,000,000 in capital, $1,000,000 in surplus

Licencing fees
$7000 filing fee

Industry sectors best represented in the domicile
Agriculture and education

Top uses for Captives in the domicile
Auto, professional, workers compensation (reinsurance), other lines

Total premiums received by the Captives
Total direct written premium from both captives - $63,663,766

Total value of assets under management
Total assets - $135,978,005

Captive insurance managers registered to conduct business in the domicile
Aon Insurance Managers