Vermont Department of Financial Regulation, Captive Insurance Division

From the time Vermont lawmakers banded together more than 4 decades ago to pass legislation allowing the formation of captive insurance companies, the state has stood out as a captive domicile.

With the passage of its groundbreaking captive insurance legislation in 1981, Vermont became the first US state to be competitive with offshore captive domiciles by, among other things, setting reasonable captive capitalization and surplus requirements.

And, just as important, Vermont was the first US state in which selected state regulators were charged with exclusively focusing on captive insurance.

The captive insurance market quickly responded to Vermont's appeal. Within a few years, Vermont became the largest US captive domicile and is now the top captive insurance domicile globally.

With 707 captives at year-end 2025, Vermont remains the largest captive domicile in the world.

Title 8: Banking and Insurance Chapter 141: Captive Insurance Companies

 

Our Team:

As leaders of the captive industry, the Vermont Captive team is consistently recognized by international trade publications and industry peers as the most experienced and knowledgeable captive insurance regulators in the world. Backed by a unique infrastructure made up of in-house examiners and support personnel, our team works closely together and in partnership with Vermont's Governor and state legislature to make sure that Vermont's regulations keep pace with the fast-changing needs of the industry.

 

Our Industry:

Part of what makes Vermont the leading onshore domicile is the extensive network of captive management firms and service providers located within the state. Whether you are looking for a large broker, a smaller independent organization, a CPA, or an attorney who specializes in captives, Vermont has the best in the industry. No matter who you choose to work with, you will receive the same "Gold Standard" of excellence that Vermont Captive has to offer.

 

Our Association:

The Vermont Captive Insurance Association (VCIA) sponsors two annual events. The first, known as Legislative Day, is held in Montpelier in January and includes meetings with state legislative leaders. That meeting is limited to VCIA members.

In addition, the VCIA holds a meeting—known as the Annual Conference—every August in Burlington. The 3-day conference attracts the largest concentration of captive professionals in one place, featuring highly relevant educational sessions and robust networking opportunities. A wide range of captive topics are discussed by experts at conference sessions. The conference is one of the oldest of its type, with the first VCIA conference held in 1985.

 The VCIA also sponsors other events, including educational webinars and member mixers, where VCIA members can get acquainted. Through its member-led Chapters in key markets—currently active in Chicago and Philadelphia—VCIA brings education, networking, and strategic outreach directly to local captive communities, connecting members with peers and with Vermont's leadership in captive insurance.