Oklahoma Licensed 11 New Captive Insurance Companies in 2022
February 24, 2023
Oklahoma licensed 11 new captive insurance companies in 2022, increasing the domicile's total number of captives to 52.
Oklahoma captive regulators expect the pace of new captive formations to remain strong in 2023.
"I am not only pleased with 2022's growth, but to date in 2023, Oklahoma has already issued three additional captive insurer licenses. This growth is attributable to Oklahoma's business-friendly environment, modern captive insurance laws, and experienced captive insurance staff," said Oklahoma Insurance Commissioner Glen Mulready.
"Our captive insurance division's dedication and efficient regulation of captive insurance companies have helped raise awareness about captive insurance in Oklahoma. We look forward to continuing this momentum and expanding our efforts in 2023," added Steve Kinion, Oklahoma's captive insurance director.
Oklahoma lawmakers in 2004 approved legislation authorizing the formation of captive insurance companies in the state.
February 24, 2023
