Oklahoma adds 14 captive insurers

Oklahoma licensed 14 new captive insurers in the nine months ended Sept. 30, bringing the total number in the domicile to 55.

Three captives dissolved during that period, resulting in a net gain of 11, up 25% from the year-earlier period, the Oklahoma Insurance Department said in a statement Friday.

The total includes 30 pure captive insurers, one association captive insurer, 15 special purpose captive insurers, two sponsored captive insurers, four entity protected (incorporated) cells, one protected cell and two series captive insurers.

Oklahoma captives generated $297 million in direct and assumed premium in 2022, up 39% from $214 million in 2021.