Hawaii

SRS Contact:

Craig Watanabe
Regional Manager
Tel: 808-543-6322

Team Members:

Craig Watanabe

Ann Wick

Webinars:

Domicile Selection – Evaluating the Regulatory Environment

Announcements:

Craig Watanabe Joins Strategic Risk Solutions

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Overview

Hawaii established its captive legislation in 1987 and has become the leading captive domicile in the Pacific Rim. It is the fourth largest US domestic domicile. At the end of 2014, Hawaii had 194 active captives.

Minimum Capital and Surplus

Single parent captive – reinsurance only $100,000
Single parent captive – other $250,000
Association captive or Risk Retention Group $500,000
Sponsored or leased capital captive $1,000,000
Reinsurance or excess captive case by case

Key Features of Legislation

Hawaii has a separate class of captive for single parent captives which are only writing in a reinsurance capacity. The lower minimum capitalization may be attractive to those concerned about additional capital requirements beyond the collateral required by a fronting company.

Specialty

Hawaii is a mature captive domicile with a stable regulatory environment. Its location has made it attractive to captive owners from the western US. Approximately 75% of Hawaii’s active captives have owners from the western US. The domicile has also attracted several captives with owners from the Pacific Rim, especially Japan.

SRS Presence

SRS was approved as a captive manager in Hawaii in 2007. Craig Watanabe, former Deputy Commissioner and Captive Insurance Administrator for Hawaii, is responsible for the oversight and development of SRS clients in Hawaii.