{"data":{"id":"us-fl/fla.-stat.-628.913","jurisdiction":"us-fl","citation":"Fla. Stat. § 628.913","heading":"Captive reinsurance companies.","body":"(1) A captive reinsurance company, if permitted by its articles of incorporation or charter, may apply to the office for a license to write reinsurance covering property and casualty insurance or reinsurance contracts. A captive reinsurance company authorized by the office may write reinsurance contracts covering risks in any state; however, a captive reinsurance company authorized by the office may not directly insure risks.\n(2) To conduct business in this state, a captive reinsurance company must:\n(a) Obtain from the office a license authorizing it to conduct business as a captive reinsurance company in this state;\n(b) Hold at least one board of directors’ meeting each year in this state;\n(c) Maintain its principal place of business in this state; and\n(d) Appoint a registered agent to accept service of process and act otherwise on its behalf in this state.\n(3) Before receiving a license, a captive reinsurance company must file with the office:\n(a) A certified copy of its charter and bylaws;\n(b) A statement under oath of its president and secretary showing its financial condition; and\n(c) Other documents required by the office.\n(4) In addition to the information required by this section, the captive reinsurance company must file with the office evidence of:\n(a) The amount and liquidity of the captive reinsurance company’s assets relative to the risks to be assumed;\n(b) The adequacy of the expertise, experience, and character of the person who manages the company;\n(c) The overall soundness of the company’s plan of operation; and\n(d) Other overall factors considered relevant by the office in ascertaining if the company would be able to meet its policy obligations.\nHistory.—ss. 664, 809(1st), ch. 82-243; s. 2, ch. 83-165; ss. 7, 11, ch. 87-127; s. 35, ch. 87-226; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 1314, ch. 2003-261; s. 28, ch. 2012-151.","path":["CHAPTER 628 STOCK AND MUTUAL INSURERS; HOLDING COMPANIES"],"source_url":"https://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute\u0026URL=0600-0699/0628/0628.html","current_through":"2026 Florida Statutes","vintage":"","retrieved_at":"2026-08-27T02:10:51Z","sha256":"39f37f52f6b0fe92723a980e8a2632547b0ce53f9721fdc6a8dddf9df3afb88b","source_id":"us-fl","stale":false,"prev":"us-fl/fla.-stat.-628.912","next":"us-fl/fla.-stat.-628.914"},"notice":"GroundRules: Original legal text. Not legal advice."}