Vermont Department of Financial Regulation, Captive Insurance Division

Since 1981, when Vermont was one of the first states to adopt captive-enabling legislation, the state has been at the forefront of the captive insurance industry. With the largest network of experienced and knowledgeable regulators, management professionals, in-house examiners, and service providers of any domicile, Vermont provides all of the resources necessary for your captive to thrive. And, with unparalleled legislative support, you can be sure your captive is strong, secure, and supported at every turn.

Whether considering forming a captive or redomiciling an existing one, we make the process as smooth as possible through remaining accessible, transparent, and by encouraging open and ongoing communication.

Vermont's captive fees and premium tax rates are not only competitive, but our unique infrastructure, including in-house examiners, can save insureds valuable time, money, and resources over the course of the relationship.

So, please, make Vermont your first call. You'll receive honest and knowledgeable advice. We have your interests foremost in mind, and we place customer service as our number one objective in working with you. Contact us to learn how Vermont sets the gold standard!

Company Contacts

Captive Insurance Economic Development Director
(802) 398–5192
Director of Financial Examinations
Director of Captive Insurance
Deputy Commissioner of Captive Insurance
(802) 828–3304

Mailing Address:
89 Main St.
Montpelier, VT 05620–0501
(802) 828–3304

Captive Domicile Summary

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. Indeed, such well-known companies as H.J. Heinz Co., Hormel Foods Corp., Sealed Air Corp., and Wells Fargo & Co. have set up Vermont captives.

With 659 captives at year-end 2023, Vermont is the largest captive domicile in the world.

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The Vermont Captive Insurance Association (VCIA) sponsors two annual events. The first, known as a 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 2 1/2-day conference, which has almost 100 exhibitors, attracts nearly 1,100 attendees. 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; member mixers, where, among other things, VCIA members can get acquainted; and road shows, during which the VCIA explains the benefits of captive insurance.

Captive Domicile Statistics

Captive Information Vermont
Type Total
Total Captive Count 659
Total Captives Licensed (since 1981) 1,321
New Captives in 2023 38
Gross Written Premium in 2022 $42 billion
Assets under Management in 2022 $193.2 billion

Data as of December 31, 2023. Total captive count, number of captives licensed since 1981, and new captives formed in 2023 exclude cell captives.

Total Captive Count* Vermont
Year Captives
2023 659
2022 639
2021 620
2020 589
2019 585
*Includes active and dormant captives and excludes cell captives
Captives' Gross Written Premiums Vermont
Year Premium Volume
2022 $42 billion
2021 $30.1 billion
2020 $30.0 billion
2019 $25.4 billion
2018 $22.6 billion


David Provost Receives 2022 Distinguished Captive Insurance Service Award:

Domicile Benefits


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:

Vermont is also home to the world's largest captive insurance trade association, the Vermont Captive Insurance Association (VCIA). Established in 1985, the Association has grown to provide lobbying support on both the state and federal levels for its nearly 500 member companies. In addition, it hosts and supports professional education opportunities for the industry at large, including the industry's premier captive conference—the VCIA Annual Conference.