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CAPTIVE INSURANCE COMPANY - A closely held insurance company whose insurance business is mostly supplied by and controlled by its owners, and wherein the original insureds are the principal beneficiaries. A captive insurance company’s insureds have express involvement and power over the company’s major operations, including underwriting, claims management policy and investment.

CELL CAPTIVE - A sponsored captive or rent-a-captive, which maintains underwriting accounts separately for each member.