Overview
Delaware first established its captive legislation in 1984. The legislation was updated and substantially re-written in 2005 aiming to enhance Delaware’s attractiveness as a captive domicile. Since 2005 Delaware has grown steadily as a domicile. At the end of 2010, Delaware had 90 active captives.
Minimum capital and surplus
| Single parent captive | $250,000 |
| Group captive – Industrial Insureds |
$500,000 |
| Association captive | $750,000 |
| Risk Retention Group | $1,000,000 |
| Sponsored or leased capital captive | $500,000 |
| Special Purpose Captive | $250,000 |
Key Features of Legislation
Delaware combines a strong captive legislation and regulatory infrastructure with business friendly corporate laws and environment. Delaware is one of seven states allowing the formation of serial limited liability companies. This structure has been used by captives to create a unique segregated cell structure.
Specialty
Delaware has traditionally been the preeminent jurisdiction for business. The State is using its history as a business friendly domicile to build its position as a captive domicile. Delaware’s government has historically been sensitive and responsive to business needs. The domicile is also supported by a service infrastructure which has been providing services to a range of entities in Delaware for years.
SRS Presence
SRS became an approved captive manager in 2009 and formed its first captive at the start of 2010.