Montana is well-positioned for a bright future in the captive arena, with a growing infrastructure of industry service providers, a dedicated regulatory team at the Commissioner’s office, and elected lawmakers who have shown a history of ensuring that Montana’s laws evolve with the industry.
[Last updated: 17/05/18]
Montana Commissioner of Securities & Insurance
840 Helena Ave.
Helena, MT 59601
Telephone Number: (406) 444-2040
Email Address: SMatthews@mt.gov
Name of Captive Legislation
Captive Insurance Company, Title 33, Chapter 28, Montana Code Annotated
Year Legislation Passed
In 2019, legislation passed requiring new protected cells to become incorporated. Additional updates to capture laws included clarification of premium tax for potential cells, protected cell dormancy tax and updates to Letter of Credit requirements.
Do you allow Cell Captives?
Yes, protected cells and series LLCs.
Total Number of Licenced Captives
Standalone Captives: 141
SBUs (series business units): 121
Number of Risk Retention Groups or Group Captives
Risk Retention Groups: 9
Number of Single Parent Captives
Single Parent Captives: 132
Number of Cell Captives
Cell Captives (Core only, not including Cells): 18
Number of licences granted in the past year (2017 calendar year)
Standalone captives: 8
Approximate (or Average) length of time to process a new captive
Captive tax rates
0.4% on the first $20 million
0.3% on each subsequent dollar collected
Assumed reinsurance premiums:
0.225% on the first $20 million
0.150% on the next $20 million
0.050% on each subsequent dollar collected
Minimum capitalisation rate
Pure captive: $250K, Industrial insured captive: $500K, Captive risk retention group: $500K, Association captive: $500K, Protected cell captive: $250K to $500K, Reinsurance captive: $125K, Special purpose captive: Amount is at Commissioner's discretion.
$300 License fee (due annually), $200 Application fee (one time).
Industry sectors best represented in the domicile
Rural hospitals, nursing homes, commercial trucking firms, investment firms, medical professional firms, construction companies.
Total premiums received by the Captives
Direct premiums received: $242 million
Assumed reinsurance premiums received: $1 Billion