CAPTIVES IN OKLAHOMA & CAPITALIZATION REQUIREMENTS
| Type | Description | minimum capital |
|---|---|---|
| Association | Insures risks of the member organizations of the association and their affiliated companies. |
$750,000 |
| Branch | Licensed by the Insurance Commissioner to transact the business of the insurance in Oklahoma through a business unit with a principle place of business in this state. | $250,000 or an amount determined by the Insurance Commissioner |
| Industrial Insured | Insures risks of the industrial insureds that comprise the industrial insured group and their affiliated companies. | $500,000 |
| Pure | Insures risks of its parent, affiliated companies of its parent and/or any controlled unaffiliated business, or a combination thereof. | $250,000 |
| Special Purpose | Formed or licensed under the Oklahoma Captive Insurance Company Act that does not meet the definition of any other type of captive insurance company defined and is designated as a special purpose captive insurance company by the Insurance Commissioner. | $250,000 or an amount determined by the Insurance Commissioner |
| Sponsored | (1) In which the minimum capital & surplus is provided by one or more sponsors. (2) Insures the risks of its participants only through separate participant contracts and (3) Funds its liability to each participant through one or more protected cell from the assets of other protected cells and from the assets of the sponsored captive insurance company’s general account. | $500,000 |
| Series | Licensed by the Insurance Commissioner as a captive insurance company subsequent to its formation under the Oklahoma Limited Liability Company Act or another state’s corresponding law. | An amount determined by the Insurance Commissioner |
