Vital statistics:

Cell captive structures licensed in domicile (PCC, ICC, SAC etc):

4 Core Captives (Nevada calls them Sponsored Captives)

Date cell captive legislation was passed:

2005

Name of cell captive law:

Added to the Captive Insurance Legislative statutes which was originally passed in 1999

Total number of cell companies:

5 (One dissolved)

Total number of individual active cells:

1

Capitalisation requirements:

The sponsored captive must maintain $500,000 in capital and surplus. The protected cells utilize the sponsored capital

Licensing Fees:

Each sponsored captive and each protected cell pays $300.00 initial licensing fee and a $300.00 renewal every year

Tax regime for cell companies/cells:

$ Millions Direct Rates % Reinsurance Rates % 0-20 .400 .225 20-40 .200 .150 Over 40 .075 .025 $5,000 minimum and $175,000 maximum * A captive insurer is entitled to receive a nonrefundable credit of $5,000 applied against the aggregate taxes owed for the first year in which the captive insurer incurs any liability for the payment of taxes. An exception is made for sponsored captives pursuant to NRS694C.450 (3)

Regulatory contact name:

Gary Cooper, Deputy Commissioner, Captive Insurance Program

Regulatory contact details:

Division of Insurance, 788 Fairview Dr., Suite 300, Carson City, NV 89701 * T: (775) 687-4270 ext. 265 * F: (775) 687-3937 * gcooper@doi.state.nv.us * http://doi.state.nv.us/

PCCs in Nevada:

View manager contact details