Fourth Annual Captive Domicile Review
Risk Management; New York › Vol. 55 Nbr. 8, August 2008
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Summary
There are over 5,000 captive insurance companies in the world today, accounting for several billion dollars in premiums. The smart captive does not place its business somewhere based on what next year's profits might be; it does it with an eye to where things might be in five or 10 years. A growing number of US states and foreign countries are opening their doors to captive insurers, and established domiciles are working to refine their regulations and improve service to make them more enticing. And as competitive as the domicile market was last year, it is even more so now and promises to get even tighter in the years to come. Presented is a review of the world's 25 largest captive domiciles. Many of the domiciles will be familiar from this publication's previous Captive Domicile Reviews, while others are new to the list and some have shown great progress during the last year.
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Fourth Annual Captive Domicile Review
There are over 5,000 captive insurance companies in the world today, accounting for several billion dollars in premiums. Where to place their business has always been a major question for companies looking to form captives, especially since choosing a domicile is a long-term decision. The smart captive does not place its business somewhere based on what next year's profits might be; it does it with an eye to where things might be in five or 10 years.
Meanwhile, competition between the domiciles gets more intense every year. A growing number of U.S. states and foreign countries are opening their doors to captive insurers, and established domiciles are working to refine their regulations and improve service to make them more enticing. And as competitive as the domicile market was last year, it is even more so now and promises to get even tighter in the years to come.What follows is a review of the world's 25 largest captive domiciles. Many of the domiciles will be familiar from our previous Captive Domicile Reviews, while others are new to the list and some have shown great progress during the last year. Utah, for instance, ranked #20 last year but has since jumped up to #15 with an aggressive push. Likewise, Kentucky makes its first appearance on our list, underscoring how the fractured U.S. insurance regime is making the captive marketplace more complex. Kentucky's entrance into the Top 25 bumped off the Bahamas, which is...See the full content of this document
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