Kentucky

Kentucky

For 20 years, Kentucky has been a successful captive domicile. We have experienced captive mangers and over 30 CPAs, attorneys, actuaries, and other service professionals located in Kentucky. Kentucky has enjoyed strong support from government and industry, and has experienced staff dedicated specifically to captives.

[Last updated: 04/12/19] ‚Äč

Regulatory contact:
Russell Coy
Department of Insurance
Mayo-Underwood Building
500 Mero Street, 2 SE 11
Frankfort, KY 40601


Telephone Number
Main Line--(502) 564-6082, ext. 25274 
FAX--(502) 564-4604  

Email Address
Russell.Coy@ky.gov

Website
http://captive.insurance.ky.gov



Name of Captive Legislation                     
Kentucky Captive Insurance Law
 
Year Legislation Passed                                               
2000
 
Recent Amendments                                    
Amended 2006 & 2010
 
Do you allow Cell Captives?                      
Not at this time
 
Total Number of Licenced Captives 
64          
 
Number of Risk Retention Groups or Group Captives                    
3 RRGs  and  8 group
 
Number of Single Parent Captives                          
53 
 
Number of Cell Captives                                             
N/A
 
Number of licences granted in the past year (2018 calendar year)    
7
 
Approximate (or Average) length of time to process a new captive 
2-3 months
 
Captive tax rates 
Kentucky Premium Tax Rate
Millions of Dollars            Direct Premiums Tax Rate (%)    Assumed Premiums Tax Rate (%)
0-20                                                       0.40                                    0.225
20-40                                                     0.30                                    0.150
40-60                                                     0.20                                    0.050
60+                                                        0.075                                 0.025
A minimum of $5,000 per year is charged if the premium tax would not otherwise exceed that amount.
 
Minimum capitalisation rate
Pure                      $250,000 USD
All others             $500,000 USD
 
Licencing fees 
Admission           $600
Annual                  $300 ($600 for RRGs)
 
Industry sectors best represented in the domicile 
Automobile, health care and elder services, manufacturing, real estate and construction, and shipping/transport and logistics.                                                                                                           
Top uses for captives in the domicile

  • Medical Malpractice/Professional Liability
  • General Liability
  • Property & Facility
  • Products Liability
  • Product or Service Warranties
  • Employment Practices


 Kentucky has four RRGs, with three writing med-mal.  We also have large ESOP controlled captives. 
 
Total premiums received by the Captives
Total annual premium approx.  $105 million
 
Total value of assets under management
Approx. $128 million
 
Captive Insurance Managers registered to conduct business in domicile


Valley National Admin. Services  

33

The Underwriters Group

8

MIJS Captive Management            

12

ALTA

1

KHA

2

Marsh

2

Quest

1

Others

5

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