From: Captive.com/IRMI
2024 has been a stellar year for captive insurance growth.
Interest in captive insurance surged in 2024, with some forecasts placing the global number of captives at approximately 8,000 and premium volume at $50 billion, according to an industry outlook published by Risk Management Advisors. For context, Business Insurance reported 6,290 captives at year-end 2024, a figure that does not include micro-captives, series captives, or individual cells within protected cell companies.
This growth has been fueled by tough global economic conditions and a hard traditional insurance market, as companies increasingly seek more affordable coverage and greater control over their risks.
While established North American domiciles such as Delaware, Missouri, North and South Carolina, Tennessee, Utah, and Vermont, along with offshore domiciles like Bermuda and the Cayman Islands, have continued to prosper, new domiciles have emerged, most notably France, which introduced captive-specific regulations in 2023.
