Captive reinsurance companies.
F.S. 628.913
in effect(1)
A captive reinsurance company, if permitted by its articles of incorporation or charter, may apply to the office for a license to write reinsurance covering property and casualty insurance or reinsurance contracts. A captive reinsurance company authorized by the office may write reinsurance contracts covering risks in any state; however, a captive reinsurance company authorized by the office may not directly insure risks.
(2)
To conduct business in this state, a captive reinsurance company must:
(a)
Obtain from the office a license authorizing it to conduct business as a captive reinsurance company in this state;
(b)
Hold at least one board of directors’ meeting each year in this state;
(c)
Maintain its principal place of business in this state; and
(d)
Appoint a registered agent to accept service of process and act otherwise on its behalf in this state.
(3)
Before receiving a license, a captive reinsurance company must file with the office:
(a)
A certified copy of its charter and bylaws;
(b)
A statement under oath of its president and secretary showing its financial condition; and
(c)
Other documents required by the office.
(4)
In addition to the information required by this section, the captive reinsurance company must file with the office evidence of:
(a)
The amount and liquidity of the captive reinsurance company’s assets relative to the risks to be assumed;
(b)
The adequacy of the expertise, experience, and character of the person who manages the company;
(c)
The overall soundness of the company’s plan of operation; and
(d)
Other overall factors considered relevant by the office in ascertaining if the company would be able to meet its policy obligations.
Source: FL Statutes (Official Site)URL: https://www.flsenate.gov/Laws/Statutes/2025/Chapter628/AllFetched: 7/8/2026