Utah is known for being a business friendly state and our Captive Division fits the well. It is known for being fair and responsive to the needs of the captives domiciled here. Along with being reasonably priced with only a nominal annual fee and no premium taxes, Utah is easy to get to with a Delta hub and a great place to visit with much to see and do.
[Last updated: 15/06/18]
3110 State Office Building Salt Lake City, UT 84114
Name of Captive Legislation
Code Section 31A-37 Captive Insurance Companies Act
Year Legislation Passed
In 2019 legislation was passed allowing for captives to enter into dormancy with approval from the Commissioner. For 2020 we are introducing legislation to allow captive to reinsure pure third-party risk with prior approval of the Commissioner.
Do you allow Cell Captives?
Total Number of Licenced Captives: 435
Standalone captives: 376
Single Parent: 362
Pool Captive: 7
Group Captive: 7
Cell captives: 59
Number of Risk Retention Groups or Group Captives
Number of Single Parent Captives
Number of Cell Captives
Number of licences granted in the past year (2019 calendar year)
Approximate (or Average) length of time to process a new captive
About 1 week to review initial packet and issue Certificate of Public Good (assuming full packet submitted). From there it depends on the applicant's eagerness to finalize documents and fund the captive.
Captive tax rates: No State premium tax; annual license flat fee rates of:
Captive: $5,000 plus $250 e-Commerce fee, $5,250 total
Minimum capitalisation rate
Pure - $250,000
Association - $750,000
Industrial and RRG - $700,000
Sponsored Cell - $1,000,000 (of which $350,000 must be maintained by the Sponsor)
Special Purpose Captive – As determined by the Commissioner
Industry sectors best represented in the domicile
Health Care, Manufacturing, Professional Services, and Construction (and all others)
Total Gross Premium for 2018:
Total Assets under management 2018:
Captive Insurance Managers registered to conduct business in the domicile
Available at: https://insurance.utah.