The Governor of Georgia has signed legislation creating a more attractive domicile environment for captive insurance companies.

        The statute, S.B. 173, signed in April, passed the state Senate and House by votes of 51-0 and 164-2 respectively.

        The bill aims to achieve three goals: first, to further clarify and update the state's captive laws; second, to streamline the captive formation process; and third, to allow captives to be organized as limited liability companies.

        As of 2016, Georgia had 28 captive insurance companies, compared with 16 in 2015 and 13 in 2012.

Source: Business Insurance