Office of Insurance and Safety Fire CommissionerJohn F. King
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How to Redomesticate an Existing Captive to the State of Georgia
 

In order to move the operations of an existing Captive Insurance Company to the State of Georgia, the Applicant should follow these steps:

  1. Review O.C.G.A. §§ 33-41-1 et seq. and Georgia Regulation 120-2-45 in order to familiarize yourself with the Georgia laws and rules directly related to the regulation of Captives in the State of Georgia.

  2. Contact the Commissioner’s staff in the Captive Insurance Division in order to discuss the proposed redomestication of the Captive.

  3. Utilize one of the following procedures, as set forth in Georgia Regulation 120-2-45-.17, in order to redomesticate the Captive entity to the State of Georgia:

  4. File all required application fees, forms and documents with the Captive Insurance Division as outlined in one of the following application checklists in order to apply for a Certificate of Authority:

  5. An application package will not be deemed complete and will not be reviewed until the Applicant has submitted all required materials as set forth above.  While an application is pending, it is the responsibility of the Applicant to keep all required statements, documents and materials current.

  6. After the application package is deemed complete and the Captive Insurance Division begins its review, the Applicant may be required to submit additional information as deemed appropriate by the Department.

  7. Typically, the Department will either approve or disapprove the application for a Certificate of Authority within 45 days (see Ga Reg. 120-2-45-.17).  However, if the Department requires additional time for its review, it may extend such 45 day period for an additional 90 days by notifying the Applicant in writing, pursuant to O.C.G.A. §33-3-15.

  8. If the Commissioner ultimately approves the Applicant’s application for a Certificate of Authority, the Commissioner shall issue a Certificate of Authority authorizing the captive insurance company to transact insurance in the State of Georgia.

  9. All forms that must be submitted to the Captive Insurance Division when redomesticating an existing captive insurance company to the State of Georgia can be found HERE.

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