Oklahoma Captive Insurance Program Welcomes 10 New Insurers
The Oklahoma Insurance Department (OID) has announced a remarkable achievement for its captive insurance program, reporting a record year in 2025 with a net gain of 10 licensed captive insurers. This milestone marks a significant moment in the state’s insurance landscape.
Oklahoma has now surpassed its previous high of 73 captive insurers, a record that was set back in 2017. This growth reflects the increasing interest and confidence in the captive insurance model, which allows businesses to create their own insurance companies to manage risk more effectively.
Since Steve Kinion took on the role of Captive Insurance Director in October 2022, the program has experienced impressive growth, expanding by 64%. In 2025 alone, the OID received 14 applications for captive insurers, all of which were approved. Despite four captives dissolving during the year, the net gain of 10 indicates a thriving environment for new entrants in the market.
To further promote this growth and foster connections within the industry, OID will host a Captive Connection event on March 4 in Oklahoma City. This event will provide an excellent opportunity for industry professionals to network and discuss the future of captive insurance in Oklahoma. More information about the event can be found on OID’s official website.
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The Oklahoma Insurance Department (OID) has announced a remarkable achievement for its captive insurance program, reporting a record year in 2025 with a net gain of 10 licensed captive insurers. This milestone marks a significant moment in the state’s insurance landscape.
Oklahoma has now surpassed its previous high of 73 captive insurers, a record that was set back in 2017. This growth reflects the increasing interest and confidence in the captive insurance model, which allows businesses to create their own insurance companies to manage risk more effectively.
Since Steve Kinion took on the role of Captive Insurance Director in October 2022, the program has experienced impressive growth, expanding by 64%. In 2025 alone, the OID received 14 applications for captive insurers, all of which were approved. Despite four captives dissolving during the year, the net gain of 10 indicates a thriving environment for new entrants in the market.
To further promote this growth and foster connections within the industry, OID will host a Captive Connection event on March 4 in Oklahoma City. This event will provide an excellent opportunity for industry professionals to network and discuss the future of captive insurance in Oklahoma. More information about the event can be found on OID’s official website.
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