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onshore captive

An onshore captive is a special purpose insurance company domiciled in the country within which its insured risks are located.

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onshore captive

An onshore captive is a special purpose insurance company domiciled in the country within which its insured risks are located.

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There are numerous onshore domiciles actively competing for US source business—for example, Vermont, South Carolina, Hawaii, and Washington, DC. British Columbia is an example of an onshore domicile for Canadian source risks. European countries (with the exception of Dublin and Luxembourg) do not actively promote themselves as captive domiciles—that is, have not passed special purpose legislation to facilitate the formation of captives.

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