The Oklahoma Insurance Department (OID) announces its captive insurance programme achieved a record year in 2025, marking the fastest three-year growth period in the state’s history.
For the year ending 31 December 2025, OID recorded a net gain of 10 licensed captive insurers, bringing the total number of captives in the state beyond its previous high of 73 set in 2017. The programme has grown by 64 per cent since Steve Kinion was appointed captive insurance director in October 2022.
In 2025, OID received and approved 14 captive insurer applications. Four captives dissolved during the same period, resulting in the reported net gain.
Glen Mulready, Oklahoma insurance commissioner, says: “The programme’s continued growth reflects the expertise of its regulators applying strong oversight and a stable, business-friendly environment in Oklahoma, which we will continue to foster.”
Kinion adds: “The 64 per cent growth over the past three years shows a focused effort to rebuild confidence in Oklahoma as a captive insurance domicile. Our programme is committed to responsive regulation, technical expertise, and long-term stability for those seeking a captive in Oklahoma.”
To support organisations in understanding captive formation, OID will host a Captive Connection event on 3 March 2026 in Oklahoma City.
