The Connecticut Insurance Department published bulletins providing information on administrative, governance, and electronic financial statement requirements for risk retention groups (RRGs). These requirements apply to all RRGs, including those operating as captive insurance companies.

RRGs domiciled outside Connecticut must be registered with the Commissioner before they can offer insurance in the state. RRGs seeking registration must submit the following:

  • A statement identifying the state they are chartered and licensed, the date of chartering, and their principal place of business
  • A copy of its plan of operations or a feasibility study
  • A statement of registration designating the Commissioner as its agent for receiving service of legal documents of process 
RRGs domiciled in Connecticut must comply with the laws and requirements applicable to insurers chartered and licensed in the state. They must also submit a plan of operation or feasibility study and design the Commissioner as its agent. In addition, they must submit the following:

  • The identity of the initial members of the group
  • The identity of the individuals who organized the group
  • The states the group will operate in

RRGs domiciled outside Connecticut and domiciled in Connecticut must electronically file their annual financial statements and reports with the NAIC by March 1, 2025. The report must be a complete report of the company’s financial condition as of December 31, 2024, and must be signed and sworn to by its president and secretary.

In addition, RRGs domiciled outside Connecticut must submit their financial statement that was submitted to their state of domicile. RRGs domiciled in Connecticut are additionally required to file a financial report audited by an independent CPA by June 1, 2025.


The bulletins can be found here and here.