HRS §431:19-214

Existing captive insurers can keep their licenses

Read the official text at capitol.hawaii.gov ↗

A captive insurance company that already had a license before July 1, 2008, and is doing or will do insurance securitization does not need a new license. It must still follow the rules for special purpose financial captive insurance companies. The insurance commissioner can require changes or issue orders to make sure it complies.

The statute, as written — Existing licenses

A copy, taken August 20, 2026. The version published by the Legislature is the one that governs, and it may have changed since. Check it before relying on anything here.

Except as otherwise determined by the commissioner, a captive insurance company, that has been issued a certificate of authority by the commissioner pursuant to section 431:19-102 as of July 1, 2008, and is engaged in or will be engaged in an insurance securitization, need not obtain a certificate of authority pursuant to section 431:19-204, but shall otherwise be subject to this part as a special purpose financial captive insurance company; provided that the commissioner may require the captive insurance company to take any action that the commissioner determines is reasonably necessary to bring the captive insurance company into compliance with this part; provided further that the commissioner may issue an order described in section 431:19-204(b) with respect to the captive insurance company.

Read the official text at capitol.hawaii.gov ↗as published Jan 6, 2026our copy taken Aug 20, 2026

Sections this one refers to

§431:19-102 Certificate of authority for captive insurance companies

§431:19-204 Getting a license to operate as a special purpose captive insurer

LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.