Vermont established its captive legislation in 1981. At the end of 2014, Vermont had 587 active captives making it the largest US onshore domicile and the third largest captive domicile worldwide after Bermuda and Cayman.

Minimum capital and surplus

Single parent captive $250,000
Group captive – Industrial insured group captive $500,000
Association captive $500,000
Risk Retention Group $1,000,000
Sponsored captive $500,000

Key Features of Legislation

As one of the oldest and the largest US onshore domicile, Vermont and its legislation has been the template for many of the newer onshore domiciles. The key feature is the legislation’s strength and the consistent application of the legislation over many years.


Vermont has a broad base of captives of all types and across all industries. Vermont is home to 50 of the Fortune 100 and 19 of the companies that make up the Dow 30 have Vermont captives. As a mature domicile, the state has an established and strong regulatory body and infrastructure of service providers.

SRS Presence

SRS through its own operations and those of its predecessor companies has managed captives in Vermont for over twenty years. We are the second largest independent captive manager in the domicile. We have been prominent in the captive community in Vermont for many years. Several of our staff have served in senior positions with the Vermont regulator prior to joining the firm.