Now is the time to redomesticate/onshore your captive insurers to North Carolina

Last fall, I wrote this blog article about the potential benefits of redomesticating a captive insurer. The captive season is starting to gear up and I have been getting a number of queries about not only setting up new captives but helping to redomesticate or “onshore” a number of captives to North Carolina. I use the term “onshore” because the majority of the redomestication queries and engagements are coming from managers looking to bring offshore (i.e. non-U.S.) captives into North Carolina, though I also get occasional engagements for redomesticating from other states. Many captive managers are finding that due to onerous anti-offshoring rules, as well as the ease of doing business in North Carolina, that redomestication of captives in North Carolina makes sense. Our firm is offering attractive pricing incentives for managers looking to redomesticate a portfolio of out-of-state or offshore captive insurers. If you are a captive manager and considering redomestication for your captive clients, contact my office for a consultation about how our firm can assist you.