The Oklahoma Insurance Department licensed 37 captive insurers during calendar year 2014, Insurance Commissioner John D. Doak’s office announced in a release.
The insurance department said the state now has a total of 47 licensed captives. The department has “taken steps to foster a business-friendly environment for the captive industry” over the past two years, according to the release.
Captives are used primarily to insure risks for a single company or industry group. Oklahoma offers captives low tax rates and potential tax advantages over other risk transfer methods, acc...
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