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Delaware has updated its annual reporting requirements for captives. There are now two versions of the Annual Report due March 1 of each year, one for Pure Captives and Series Business Units (SBUs) only, and one for all other types of captives.
The “all other” version is similar to the prior year’s Annual Report. Some changes include:
The Annual Report for Pure Captives and SBUs contains the above changes but also some additional simplifying changes, including:
Along with the Annual Report instruction document, Delaware has published instruction documents for Audited Financial Statements and Statements of Actuarial Opinion (SAO) due June 30 each year. As an actuarial service provider to numerous Delaware-domiciled captives, Pinnacle has already incorporated these SAO requirement changes into our processes.
The annual filing requirements can be found here: http://captive.delawareinsurance.gov/CaptiveAnnualFiling.shtml
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Pinnacle is an actuarial firm focused on property/casualty insurance, including alternative markets, captives, self insureds, enterprise risk management, predictive analytics, commercial lines and more. We serve trucking, insurance, health care, medical professional liability, reinsurance, workers compensation, public entities and other companies and concerns.
Our services include expert witness, loss reserving, litigation support, pricing, ratemaking, rate filing, statements of actuarial opinion, feasibility studies, capital modeling and other actuarial services and products.
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