Nevada

Nevada

Currently, Nevada has over 200 active captive insurers. As one of the country’s oldest captive domiciles, Nevada enjoys a strong working relationship with service providers from around the world. In recent years, Nevada has seen rapid growth in captive utilization by many important new segments of our state and national economy, e.g. bio-tech, alternative energy, multi-national transportation and manufacturing as well as significant growth in captives for financial institutions. Nevada continues to lead the nation in formations of risk retention groups. Nevada also offers some of the very best regulatory options for captive formations including series LLC’s and segregated cell captive plans. When added to Nevada’s expedited approval process and nation-leading program support, Nevada continues growing its captive programs to support healthy risk alternative programs.

[Last updated: 30/07/16]
Regulatory contact:
Michael Lynch
Deputy Commissioner
1818 E. College Parkway, Suite 103
Carson City, NV 89706
Telephone Number
(775) 687-0758
Email Address
mlynch@doi.nv.gov
Website
www.doi.nv.gov



Name of Captive Legislation
NRS 694C
 
Year Legislation Passed
1999
 
Recent Amendments
2015, updated financial reporting requirements, clarified filings for RRG’s.
 
Do you allow Cell Captives?
Yes (NRS 694C.147)
 
Total Number of Licenced Captives 
204  (Cells = 147)
 
Number of Risk Retention Groups or Group Captives
 15
 
Number of Single Parent Captives
 
164
 
Number of Cell Captives
 8
 
Number of licences granted in the past year (2015 calendar year)
 52
 
Approximate (or Average) length of time to process a new captive 
 2-3 weeks.
 
Captive tax rates
.4 up to $20,000,000
.2 over $20,000,000
Max. $175,000
Min. $5,000
 
Minimum capitalisation rate
$200,000 Pure
$500,000 Cell/Agency
 
Licencing fees
$1,050 initial licensing fees
$4,000 - $5,000 Independent reviewer fee if applicable
 
Industry sectors best represented in the domicile
Transportation
Agricultural
Medical Professional
Banking/Financial
 
Top 5 uses for Captives in the domicile
Excess Work Comp
Employee Benefits/Stop Loss
Professional Liability
General Liability
Commercial Vehicle/Transportation
 
Total premiums received by the Captives
(2015) $4,143,705,854.50
 
Total value of assets under management
(2015) Estimated:  $4,300,000,000.00
 
Captive Insurance Managers registered to conduct business in the domicile
http://doi.nv.gov/uploadedFiles/doinvgov/_public-documents/Captive/CapMan.pdf

Company latest

Articles

There are no related articles.

News

There are no related news.

Captive International