Hawaii

Overview

Hawaii established its captive legislation in 1987 and has become the leading captive domicile in the Pacific Rim. It is the second largest US domestic domicile behind Vermont. At the end of 2007, Hawaii had 166 active captives.

Minimum capital and surplus

	Single parent captive - reinsurance only	$100,000
	Single parent captive - other	$250,000
	Group captive including Risk Retention Group	$500,000
	Sponsored or leased capital captive	$1,000,000
	Reinsurance or excess captive	case by case

Key Features of Legislation

Hawaii has a separate class of captive for single parent captives which are only writing in a reinsurance capacity. The lower minimum capitalization may be attractive to those concerned about additional capital requirements beyond the collateral required by a fronting company.

Specialty

Hawaii is a mature captive domicile with a stable regulatory environment. Its location has made it attractive to captive owners from the western United States. Approximatley 75% of Hawaii's active captives have owners from the western US. The domicile has also attracted several captives with owners from the Pacific Rim, especially Japan.

SRS Presence

SRS was approved as a captive manager in Hawaii in 2007. Ann Wick, a seasoned captive professional, runs the western region with responsibility for overseeing the management of captives in Hawaii.

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