Oklahoma experienced another strong year of growth with 26 new captive insurers being licensed in 2015.
The state currently regulates 73 captive insurers, with 26 of those being issued last year. John Doak, Oklahoma;s insurance commissioner, said he has fought for regulatory and legislative reforms in recent years to attract new captive business.
Doak commented: “The success of Oklahoma’s captive insurance industry is based in the value of the regulatory environment and the service that our department provides to captive owners.”
“As new issues and ideas emerge at both the state and federal levels, I will continue to support the protection and progression of our authority to create a fair and efficient place to do business.”
Oklahoma’s captive insurance statutes and regulations have been updated during recent years to encompass modern trends, according to the Oklahoma Insurance Department.
