Believe it or not, North Carolina is more than stunning beaches, majestic mountains, impressive golf courses and everything in between. North Carolina is a growing state for captives and has quickly risen to one of the leading domiciles in the US. Since its formation in 2013, North Carolina’s captive insurance program has grown to be the 4th largest U.S. domicile, according to A.M. Best. North Carolina is one of the newest, but fastest-growing domiciles, due to its favorable regulation, knowledgeable regulatory staff, and business-oriented approach. We chose North Carolina for the home of Oak Harbor Re due to its favorable regulatory environment and low cost of operations.
North Carolina’s captive regulation offers many benefits:
- Low cost of operations
- Reasonable capital requirements
- Few investment restrictions
- Competitive premium tax rates
Source: https://www.ncdoi.gov/insurance-industry/captive-insurance/why-nc