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NC Captive Law

This document is an unofficial compilation of the original captive law passed in 2013 and the 2014 amendments thereto.

While every effort was made to ensure the accuracy and completeness of the captive insurance statutes available on the North Carolina Department of Insurance's web site, these statutes include recent amendments that have not yet been issued in official codified form.  The North Carolina Department of Insurance will not be responsible for any errors or omissions which may occur in this file, and users should consult the following Session Laws in question:

Minimum Capital & Surplus Requirements

Type Minimum Capital & Surplus
Pure *$250,000
Association $500,000
Industrial Insured $500,000
RRG $1,000,000
Protected Cell / Incorporated Cell $250,000
SPFC $250,000
Special Purpose Captive Insurance Company $250,000

* or such other amount as determined by the Commissioner

Premium Tax Rates

Direct Premiums Collected Premium Tax Rate
Up to $20,000,000 .4%
$20,000,000 and more .3%
Assumed Reinsurance Premiums Collected Premium Tax Rate
Up to $20,000,000 .225%
$20,000,000 to $40,000,000 .150%
$40,000,000 to $60,000,000 .050%
$60,000,000 and over .025%