Captives

A captive is an insurance company created to insure the risks of its members. Companies, both large and small, have found that forming a captive allows them to better manage the cost and administration of their insurance coverage needs.

The Georgia Captive Insurance Company Act (the “Act”), originally enacted in 1988, allows Captives to obtain a license and operate in the State of Georgia. With the passage of Georgia's Captive bills, the promulgation of Georgia Regulation 120-2-45, and the creation of a Captive Division at the Department, Georgia continues to ensure that its laws and regulations are consistent with best practices in the Captive industry.

In an effort to streamline the filing and payment process, all filings for Captives are now required to be submitted through the GIMS Portal.  A hard copy will no longer be required. 

Georgia Required Filings-Captives

The Georgia Required Filings tab located in the GIMS Company Portal is designed for all non-recurring, ad-hoc filings and will streamline submission and payment processes for these specific filings. This addition ensures a more efficient, paperless experience for your organization. 

The following filings for Captive entities should now be submitted and paid through the Georgia Required Filings tab:

• Conversion of Stock Corporation to Member-managed Limited Liability Company (LLC) O.C.G.A. 33-41-5
• Certificate of Dormancy
• Change in Director/Officer of Entity
• Business Plan Amendment
• Dividend Request
• Change in Organizational Structure

Resources & Guides

• Form a New Captive in the State of Georgia
• Redomesticate an Existing Captive to the State of Georgia
• Become an Approved Captive Manager in the State of Georgia
• Approved Captive Managers in the State of Georgia

Forms

• Pure Captives Renewal Instructions and Forms
• Newly Forming Captive Forms
• Redomesticating Captive Forms
• Prospective Captive Manager Forms
• Sponsored and Cell Captive Forms
• Dormant Captive Forms
• Annual Statement GID-419-RS