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North Carolina Insurance Commissioner Mike Causey has announced that the State
Captive insurance company program for calendar year 2016 again exceeded all expectations. It is the program’s third full year of operation. “North Carolina’s captive insurance program continues to experience growth in the number of captive insurers forming and re-domesticating
in our state,” said Causey. As of January 23, 2017, over 550 risk bearing captive insurance entities are under the regulation of NCDOI, including 190 captive insurers that are licensed or provisionally licensed and 363 cells or series captives that are approved or provisionally approved. Causey further stated: “During 2016, the number of NC licensed captive insurers more than doubled and the number of cells or series approved captives grew by more than 50%…..We credit the success of our program to a number of factors, including the NC Captive Insurance [Law]…the the NCDOI’s prudent yet pro-business approach to regulation, and the contributions of the
North Carolina Captive Insurance Association.”
NC Department of Insurance
NCCIA Code of Ethics