2017 Brings Moderate Captive Insurer Growth in Major Domiciles
From: Captive.com, February 2, 2018
Amid a soft commercial market, the number of captive insurance companies being set up in major domiciles continues to increase at modest levels.
In Vermont, which is the largest captive domicile in the United States with 566 captives at year-end 2017, regulators licensed 24 captives in 2017, down from 26 in 2016 and 37 in 2015.
Other domiciles also report lower growth. For example, in Montana, the 42 new captive formations in 2017 compares to 60 in 2016, while in Nevada, regulators licensed 22 captives last year, down from 30 in 2016. In Utah, 60 captives were licensed in 2017, 5 fewer than in 2016, while in Texas, the Department of Insurance licensed 8 captives last year, down from 13 in 2016.