From: Captive.com/IRMI
New captive insurance formations have been very major in many domiciles so far in 2024.
In Vermont, the largest US captive domicile, 26 captives were licensed through the end of May, bringing its total captive count to 690.
In addition, says Sandy Bigglestone, deputy commissioner of the Captive Insurance Division in Vermont’s Department of Financial Regulation, more captives are expected to be licensed this year.
“We have many applications in review right now. Plus, we continue to have meetings with companies and organizations looking to form new captives,” Ms. Bigglestone said.
In Utah, another major US captive domicile, 11 captives have been licensed so far in 2024, bringing its captive count to 422.
