Nevada

SRS Contact:

Ann Wick
President, SRS West

Tel: 480-862-4985

Webinars:

2015 The State of the Captive Insurance Market

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Overview

Nevada established its captive legislation in 1999 and has quickly grown to become a leading onshore US captive domicile. At the end of 2014, Nevada had 160 active captives.

Minimum Capital and Surplus

Single parent captive $200,000
Association captive $500,000
Agency captive $600,000
Rental captive $800,000
Sponsored captive $500,000

Key Features of Legislation

Like most domestic domiciles, Nevada’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.
  • Cap on premium tax at $175,000. This is at the lower end of the cap imposed by other domiciles.

Specialty

Nevada has a spread of captives by both type and industry. The domicile has been attractive for real estate and construction captives which account for over 25% of active captives in the state. Nevada has a business friendly tax structure and is a leading business destination.

SRS Presence

SRS was approved as a captive manager in Nevada in 2007. We oversee the management of captives in the domicile from our western region headquarters under the direction of Ann Wick. Ann sits on the Nevada Division of Insurance’s Advisory Committee of Captive Insurers.