Highlights of Alberta's Captive Insurance Domicile

Alberta's captive insurance domicile, effective from July 1, 2022, provides innovative risk management solutions and a supportive regulatory environment, catering to a wide range of sectors.

• Flexible framework allowing captives in various sectors as an alternative to traditional insurers, expanding risk management options for businesses.
• Captives licensed and supervised by Alberta's Superintendent of Insurance, ensuring financial health and claim fulfillment capacity.
• Welcomes relocation of captive insurance companies established in the US or offshore to Alberta.
• Provisions for forming, operating, and dissolving a captive insurer, aligning with sound financial and corporate governance principles.
• Various types of captives allowed, including pure captives, association captives, and sophisticated insured captives.

Alberta's approach to captive insurance is strategically designed to assist businesses in effective risk management, offering access to global reinsurance markets and fostering economic benefits.

The domicile's framework, while offering substantial advantages, is best suited for entities with a long-term risk management perspective and is particularly beneficial for sectors like energy, agriculture, forestry, and manufacturing.