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Onshore (USA)
Illinois
Illinois modernized its Insurance Code in 2018 to lower capital and surplus requirements and filing fees, making the state a more viable captive domicile. The state now allows captives to make loans to affiliates with prior approval and permits captive reinsurance pools. Despite having one of the highest GDPs in the US, Illinois has only recently become an active competitor in the captive space.
Quick Facts
Jurisdiction
Onshore (USA)
Legislation
Illinois Insurance Code (2018 Amendment)
Tax Environment
$2,000 filing fee (lowered from $7,000)
Financial Requirements
Minimum Capital & Surplus
| Structure Type | Minimum Capital |
|---|---|
| Pure | $250,000 |
| Industrial Insured | $500,000 |
| Association | $750,000 |
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Regulatory Framework
Illinois Insurance Code (2018 Amendment)
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Tax Environment
$2,000 filing fee (lowered from $7,000)
Considering Illinois for Your Captive?
Our consultants provide end-to-end guidance on domicile selection, feasibility, and formation. Let us help you determine if Illinois is the right fit.