NC Captive Law
This document is an unofficial compilation of the original captive law passed in 2013 and the 2014, 2015, and 2016 amendments thereto.
While every effort was made to ensure the accuracy and completeness of the captive insurance statutes available on the North Carolina Department of Insurance's web site, these statutes include recent amendments that have not yet been issued in official codified form. The North Carolina Department of Insurance will not be responsible for any errors or omissions which may occur in this file, and users should consult the following Session Laws in question:
Minimum Capital & Surplus Requirements
| Type |
Minimum Capital & Surplus |
| Pure |
*$250,000 |
| Association |
$500,000 |
| Industrial Insured |
$500,000 |
| RRG |
$1,000,000 |
| Protected Cell |
*$250,000 |
| SPFC |
$250,000 |
| Special Purpose |
*$250,000 |
* or such other amount as determined by the Commissioner
Premium Tax Rates
| Direct Premiums Collected |
Premium Tax Rate |
| Up to $20,000,000 |
.4% |
| $20,000,000 and more |
.3% |
| Assumed Reinsurance Premiums Collected |
Premium Tax Rate |
| Up to $20,000,000 |
.225% |
| $20,000,000 to $40,000,000 |
.150% |
| $40,000,000 to $60,000,000 |
.050% |
| $60,000,000 and over |
.025% |