onshore captive
An onshore captive is a special purpose insurance company domiciled in the country within which its insured risks are located.
Additional Information
There are numerous onshore domiciles actively competing for US source business—for example, Vermont, South Carolina, Hawaii, and Washington, DC. British Columbia is an example of an onshore domicile for Canadian source risks. European countries (with the exception of Dublin and Luxembourg) do not actively promote themselves as captive domiciles—that is, have not passed special purpose legislation to facilitate the formation of captives.
