Fla. Stat. 628.913
Captive reinsurance companies
(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:Obtain from the office a license authorizing it to conduct business as a captive reinsurance company in this state;Hold at least one board of directors’ meeting each year in this state;Maintain its principal place of business in this state; andAppoint a registered agent to accept service of process and act otherwise on its behalf in this state.(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 certified copy of its charter and bylaws;A statement under oath of its president and secretary showing its financial condition; andOther documents required by 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:The amount and liquidity of the captive reinsurance company’s assets relative to the risks to be assumed;The adequacy of the expertise, experience, and character of the person who manages the company;The overall soundness of the company’s plan of operation; andOther overall factors considered relevant by the office in ascertaining if the company would be able to meet its policy obligations.(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:
Section 628.913 — Captive reinsurance companies, https://www.flsenate.gov/Laws/Statutes/2024/0628.913 (accessed Aug. 7, 2025).