Nevada

Currently, Nevada has 155 licensed captive insurers. Nevada is proud to be one of the country's oldest captive domiciles and one of the most business-friendly states in the nation. Nevada has been an attractive captive domicile for many reasons. Among those is its tax structure. There are no personal or corporate income taxes. Nevada also offers low application expenses, a fair and consistent regulatory environment, and a knowledgeable and accessible staff dedicated to providing prompt and professional service to all our captive industry partners. In recent years, Nevada has seen growth in captive utilization by important new segments of our state and national economy, e.g. cannabis, and strives to support healthy risk alternative programs.

[Last updated: 02/14/2023]
Regulatory contact:
Robert Gallegos
Captive Program Officer
1818 E. College Parkway, Suite 103
Carson City, NV 89706
Telephone Number
(775) 687-0748
Email Address: captives@doi.nv.gov
Website: www.doi.nv.gov

Name of Captive Legislation
NRS 694C

Year Legislation Passed
1999

Recent Amendments
2021, Added dormancy provision, expanded banking options, cut examination fees by 33%.

Do you allow Cell Captives?
Yes (NRS 694C.147)

Total Number of Licensed Captives
155 (Cells = 144)

Number of Risk Retention Groups
10

Number of Single Parent Captives
129

Number of Cell Captives
5

Number of licenses granted in the past year (2022 calendar year)
4

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 capitalization rate
$200,000 Pure
$500,000 Sponsored/Cell and Association
$600,000 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
Commercial Property and Liability Difference in Conditions
Commercial Property and Liability Deductible Reimbursement
Commercial Vehicle/Transportation

Total premiums received by the Captives
(2021) $402,444,094.00

Captive Insurance Managers registered to conduct business in the domicile
http://di.nv.gov/sdc/CaptiveManager.pdf

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