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DOMICILE UPDATE

DOMICILE UPDATE. Captive Structures by the Numbers. Presently Alabama has 73 captive structures. 1 Association Captive 36 Pure Captives 7 Protected Cell Core Captives 25 Cell Structures 4 Captive RRGs. Captive Formations.

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DOMICILE UPDATE

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  1. DOMICILE UPDATE

  2. Captive Structures by the Numbers Presently Alabama has 73 captive structures. 1 Association Captive 36 Pure Captives 7 Protected Cell Core Captives 25 Cell Structures 4 Captive RRGs

  3. Captive Formations Since the last meeting a total of 17 captive structures have been formed or redomesticated to Alabama. 1 Protected Cell Cores 8 Cell Structures 5 Pure 3 RRGs

  4. Dissolutions In the past year there have been 11 captive dissolutions. 10 No longer desired by owner * 1 Receivership * 9 pure captives. Notice 2016-66 and IR-2019-157 Settlement Offer

  5. Aggregate Industry Financial Condition As of December 31, 2018, the industry’s aggregate financial position was stable. The industry as a whole has the surplus to more than 10x the amount of gross premium being written. 2019 saw the first receivership action in the Act’s 13 year existence.

  6. SERVICE PROVIDER STATISTICS Currently there are 115 approved service providers. 40 Actuaries 50 CPAs 32 Managers

  7. QUESTIONS?

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