Arizona

SRS Contact:

Ann Wick

President, SRS West

Tel: 480-682-4985

Announcements:

SRS West Continues Strong Growth, Expands Team

SRS Heads West. Hires Industry Veteran Ann Wick

.

Overview

Arizona established its captive legislation in 2003 and has successfully established itself as a viable US domestic domicile. At the end of 2014, Arizona had 114 active captives.

Minimum Capital and Surplus

Single parent captive* $250,000
Group captive* $500,000
Agency captive $500,000
Risk Retention Group $500,000
Protected cell captive $500,000

*50% of regular statutory minimum for reinsurance only captives.

Key Features of Legislation

Like most domestic domiciles, Arizona’s legislation is modeled after Vermont, but with some key differences. These include:

  • The acceptance of agency captives in the state. Agency captives are typically limited to offshore domiciles.
  • No premium tax: a flat annual fee is charged in lieu of premium tax. This structure is more typically found offshore than for a domestic domicile.

Specialty

Arizona has targeted organizations with headquarters in the western US states. Over half of Arizona’s captives have parent organizations from the western US.

SRS Presence

SRS has been managing captives in Arizona since 2003. In 2007, SRS established the headquarters for its western region operations in Arizona. Ann Wick, a seasoned captive professional, runs the western region with responsibility for overseeing the management of captives in Arizona.