- (1) A company shall file an annual report of its financial condition with the commissioner as required by Section 31A-37-501.
(2) The report required in Subsection (1) shall be:
- (a) verified by oath of at least two individuals who are executive officers of the company and by the captive manager or a appointed representative;
- (b) prepared using GAAP; and
- (c) filed electronically using the department's website, https://insurance.utah.gov/captive.
(3)(a) A company, except for a company under Subsection (3)(b), shall use the Captive Insurance Company Annual Statement Form.
- (b) A risk retention group and a special purpose financial captive shall use the NAIC's Annual and Quarterly Statements.
- (4) An annual report shall include a Statement of Economic Benefit to the State of Utah that is filed in accordance with Subsection (2)(c).
KEY: captive insurance
Date of Last Change: February 9, 2026
Notice of Continuation: May 2, 2022
Authorizing, and Implemented or Interpreted Law: 31A-2-201; 31A-37-106