These domiciles provide the favorable legislation and established infrastructure to support the captive insurance industry.
Comerica Bank has active relationships in these major domiciles:
Barbados
Bermuda
British Virgin Islands
Cayman Islands
Arizona
Delaware
Hawaii
Nevada
South Carolina
Vermont
Washington D.C.
Whether an offshore or onshore domicile is right for your company will depend on your specific needs. Your team of professionals can help in that selection.
Offshore Captives
There are approximately 5,000 captives in the world, with over 1,000 of these in Bermuda alone. Over 50% of the "Fortune 500" companies have their captives domiciled in Bermuda.
Bermuda and the Cayman Islands have emerged as the world's leading captive domiciles. Here's why:
Favorable regulations and long experience of working with U.S. companies and associations in the captive field.
Greater flexibility is allowed in designing the type of insurance program you need.
Flexibility in investment opportunities.
Longer track record, stable government, and predictable outcomes of legal matters due to prior precedents.
Onshore Captives
Several U.S. states have enacted legislation allowing captive companies to be formed, including Arizona, Delaware, Hawaii, Nevada, South Carolina, Vermont, and Washington D.C. Vermont, ranked third in the world with over 500 resident captives, prides itself as the premier onshore domicile for more than 120 Fortune 500 companies. Vermont provides a strong, professional and supportive infrastructure, and its long history of legislative and regulatory innovation has kept it on the leading edge of the industry.
