public Onshore (Canada) verified Last Verified: 2026-10-28

Alberta

Alberta enacted dedicated captive insurance legislation under the Captive Insurance Companies Act (SA 2021, c. C-2.4), which came into force on July 1, 2022, making it the second Canadian province with a standalone captive statute. Administered by the Alberta Superintendent of Insurance (Treasury Board and Finance), the regime authorizes pure, association, and sophisticated insured captives—formed as either corporations or limited partnerships—as well as redomestication of foreign captives. Driven by strong demand from the energy, natural resource, and commercial sectors, along with Canada's lowest provincial corporate income tax rate (8%) and streamlined 6-week licensing, Alberta has rapidly expanded its captive insurance sector.

Quick Facts

Verified 2026-10-28

Jurisdiction

Onshore (Canada)

Legislation

Captive Insurance Companies Act, SA 2021, c. C-2.4 (in force July 1, 2022) & Captive Insurance Companies Regulation, Alta. Reg. 100/2022

Tax Environment

Subject to federal and provincial corporate income tax (8% Alberta general corporate tax rate) and Alberta insurance premiums tax under the Alberta Corporate Tax Act (3% on life, accident and sickness insurance; 4% on property, casualty and other insurance contracts on Alberta risks).

Contact

Erin O'Neill, Alberta Superintendent of Insurance

tbf.insurance-licens@gov.ab.ca

Last Verified

verified 2026-10-28

Financial Requirements

Minimum Capital & Surplus

Structure Type	Minimum Capital
Pure Captive	CAD 250,000 minimum base capital (or greater of 20% of first CAD 5M Net Insurance Revenue + 10% over CAD 5M, or 15% of net Liabilities for Incurred Claims for P&C; subject to Superintendent's risk-based determination)
Association Captive	CAD 500,000 minimum base capital (or greater of formulaic revenue/claims thresholds or actuary-proposed risk-based amount; subject to Superintendent's determination)
Sophisticated Insured Captive	CAD 500,000 minimum base capital (insureds must demonstrate insurance expertise and pay at least CAD 500,000 in aggregate annual premiums; subject to Superintendent's determination)

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Regulatory Framework

Captive Insurance Companies Act, SA 2021, c. C-2.4 (in force July 1, 2022) & Captive Insurance Companies Regulation, Alta. Reg. 100/2022

Applicable Statutes & Regulations

Captive Insurance Companies Act (SA 2021, c. C-2.4); Captive Insurance Companies Regulation (Alta. Reg. 100/2022); Captive Insurance Companies (Prescribed Enactments) Regulation (Alta. Reg. 103/2022); Fees Under the Captive Insurance Companies Act Order (Ministerial Order 14/2022); Classes of Insurance Regulation (Alta. Reg. 144/2011); Recovery of Insurance Administration Costs Regulation (Alta. Reg. 102/2022); Insurance Enforcement and Administration Regulation (Alta. Reg. 101/2022); Business Corporations Act (RSA 2000, c. B-9); Partnership Act (RSA 2000, c. P-3); Alberta Corporate Tax Act (RSA 2000, c. A-15).

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Tax Environment

Detailed Profile

Regulatory & Statistical Profile

bar_chart Captive Market Volume

Reporting Year 2025

Total Active Captives 37

New Captives Licensed 6

Surrendered Licenses 0

pie_chart Structure Distribution

Pure / Single Parent 37

Group / Association 0

checklist Authorized Captive Structures

Pure captives (Single parent captives)Association captivesSophisticated insured captivesRedomesticated foreign captives

payments Fees & Solvency Compliance

Year Legislation Passed

2022

Licensing Speed

6 weeks (target for 90% of complete applications)

Premium Tax Rate

3% on life, accident and sickness insurance premiums; 4% on property and casualty and all other insurance contracts on risks insured in Alberta (under the Alberta Corporate Tax Act). 8% provincial corporate income tax rate.

Incorporation / Initial Fee

CAD 500 document filing fee (for association/sophisticated insured filings under s. 15) plus licence fee per class of insurance: CAD 600 each for Life, Property, Accident & Sickness, or Hail insurance; CAD 100 for one or more of any other class (50% prorated if issued after 8 months of the licensing year, per Ministerial Order 14/2022).

Annual Maintenance Fee

Annual licence renewal fee (due by November 30 via IRIS): CAD 600 each for Life, Property, Accident & Sickness, or Hail insurance; CAD 100 for one or more of any other class; CAD 600 for run-off/discontinued renewal; plus annual regulatory cost recovery assessment under the Recovery of Insurance Administration Costs Regulation.

Annual Filing Requirements

Electronic filing via IRIS required: Captive Annual Return Template and Signed Affidavit within 60 days after calendar year-end; Consolidated Audited Financial Statements (under IFRS 17), Auditor's Report, and Appointed Actuary's Report within 180 days after fiscal year-end; Alberta Premium Tax Return by May 15; Annual Licence Renewal by November 30; monthly Anti-Terrorism Financing Report by the 15th of each month. Principal place of business and records must be maintained in Alberta.