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NFP’s Sam Jackson on Taxes and Alberta Captive Insurance Companies

Many Alberta companies considering setting up an insurance company are taking a “wait-and-see” approach because of tax treatment, according to a recent article by Canadian Underwriter.

The current belief is that tax authorities will treat captives the same as other insurance entities in regard to taxes. However, true clarity on premium tax treatment for captive insurance companies in Alberta isn’t expected until the province’s next election.

NFP Canada's Sam Jackson recently spoke with Canadian Underwriter about the issue.

“A lot of companies are asking questions from all types of industry segments, including manufacturing, construction, residential and commercial real estate, condominiums, energy services, transportation etc.,” Jackson told the publication.

“Many are looking for alternatives to paying the premiums currently being charged by the commercial insurance market and evaluating whether or not an Alberta captive would meet their risk financing objectives.”

Click here to read the full article.

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