State of Vermont Department of Financial Regulation—Captive Division

Vermont Captive Insurance Image

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!

Captive Domicile Contacts

Licensing Team:
Dave Provost

Dave Provost
Deputy Commissioner
Department of Financial Regulation
Captive Insurance Division
[email protected]

Sandy Bigglestone

Sandy Bigglestone
Director of Captive Insurance
Department of Financial Regulation
Captive Insurance Division
[email protected]

Christine Brown

Christine Brown
Assistant Director of Captive Insurance
Department of Financial Regulation
Captive Insurance Division
[email protected]

Business Development:
Examination Team:
Dan Petterson

Dan Petterson
Director of Financial Examinations
Department of Financial Regulations
Captive Insurance Division
[email protected]


State of Vermont
Department of Financial Regulation
Captive Division
89 Main Street
Montpelier, VT 05620-0501
(802) 828–3304


State of Vermont
Department of Economic Development
One National Life Drive
Deane C. Davis Bldg., 6th Floor
Montpelier, VT 05620-0501
(802) 828–5232



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Captive Domicile Summary

From the time Vermont lawmakers banded together more than 3 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 585 captives at year-end 2019, Vermont is not only—by far—the no. 1 US captive domicile, it also is the world's third-largest captive domicile.


Captive Domicile Statistics

Captive Information
Type Total
Total Captive Count 585
Total Captives Licensed (since 1981) 1,159
New Captives in 2019 22
Gross Written Premium $25.4 billion
Assets under Management $212 billion
Data as of December 31, 2019
Includes active and dormant captives and excludes cell captives

Please visit the Vermont captive website for more information the number of captives broken down by structure, gross written premium, and industry.

Total Captive Count*
Year Captives
2019 585 
2018 580
2017 578
2016 593
2015 594
*Includes active and dormant captives and excludes cell captives.
Captives' Gross Written Premiums
Year Gross Premium
2019 $25.4 billion 
2018 $22.6 billion 
2017 $21.7 billion
2016 $32.8 billion
2015 $27.6 billion
2014 $25.5 billion

Applicable Captive Insurance Laws


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.