Vermont Captive Domicile Summary

Vermont State Seal-SF

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 have set up Vermont captives.

With 578 captives at year-end 2017, 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


Total Captive Count*
Vermont
Year Captives
2018 580
2017 578
2016 593
2015 594
2014 587
*Includes active and dormant captives and excludes cell captives.

Captives' Gross Written Premiums
Vermont
Year Gross Premium
2018
2017 $21.7 billion
2016 $32.8 billion
2015 $27.6 billion
2014 $25.5 billion


Captive Domicile Contacts


For more information, contact
David Provost
Deputy Commissioner, Captive Insurance
Vermont Department of Financial Regulation
89 Main Street
Montpelier, Vermont 05620-3304
Phone: (802) 828–3304
Email

Captive Events


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 sessionsThe 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 News


Vermont Changes Financial Examination Requirements for Captives

Vermont May Adjust Financial Examination Requirements for Captives

First Affiliated Reinsurance Company Formed in Vermont

Captive Formations Continue as Soft Market Persists

Vermont Embarks upon a Captive Insurance Blockchain Pilot

Healthcare Industry Fuels Vermont's Captive Licenses in 2018

A.M. Best Examines Vermont's Affiliated Reinsurance Company Legislation

Captive Premium a "Nice Target for Tax Revenue," Say Some Regulators

Captive Insurers Should Review Their Risks at Least Every 5 Years

Update from Vermont on the Microsoft Captive Cease and Desist Order

Vermont's Captive Conference Is Part of a Thoughtfully Woven Tapestry

New Vermont Law Allows for Affiliated Reinsurance Companies

Captive Domiciles Continue To Fine-Tune Their Captive Statutes

Vermont Enhances Branch Captives and Standardizes Annual Filing Date

2017 Brings Moderate Captive Insurer Growth in Major Domiciles

Vermont Judged Best Insurance Regulatory Environment in United States

Vermont Update: 24 New Captive Insurer Licenses Issued in 2017

UVM Health Network To Relocate Captive Insurance Company to Vermont

Contrasting Risk Retention Groups and Captive Insurance Companies

Captive Insurer, Green Mountain Slated To Grow under Chris Kramer

Maglaras & Company Advises Vermont's 1,100th Licensed Captive Insurer

How Some Captive Insurers Are Using Technology To Mitigate Risk

Vermont Provides Most Current Captive Insurance Figures at VCIA Conference

Vermont Agency Captive Insurance Law Details Revealed

Captive Insurance Pre-Formation and Feasibility Discussed by Panel

Vermont "Sticks to" and "Nurtures" Its Captive Insurance Plan

Captive Domiciles Update Their Laws To Attract and Keep Captive Insurers

A.M. Best Says New Vermont Law Adds to Domicile’s Cache

New Vermont Captive Insurance Legislation Signed into Law

Ian Davis To Become Vermont's Chief Marketing Official for Captive Insurance

Vermont Licensed 26 New Captive Insurance Companies in 2016

Captive Legislation Changes Proposed in Vermont

Captive Insurance Domicile Milestone—Happy 35th Anniversary, Vermont

Risk Retention Group Governance Standards: Vermont Leads Implementation

Captive Insurance Industry Growth in 2015 Doubles from 2014 for Vermont

Captive Insurance Association in Vermont Announces Legislative Day

Vermont Enacts Captive Statute Revisions

Vermont Captive Legislative Proposal Progresses

Vermont Captive Quality, Premium Growth Continue