A.R.S. § 20-1098.19: Establishment of branch captive insurer

A. An alien captive insurer or foreign captive insurer may establish a business unit in this state and become licensed as a branch captive insurer in this state pursuant to this chapter to write insurance or reinsurance in this state except as provided in section 20-1098.01, subsection B and other than workers' compensation or employers' liability insurance.

B. A branch captive insurer shall not conduct any branch business in this state unless it maintains the principal place of business for its branch operations in this state.

C. A branch captive insurer shall be a pure captive insurer with respect to operations and minimum capitalization in this state unless otherwise permitted by the director.