Captive.com logo

Captive Insurance News

Free Captive Wire Report

Tax Considerations for Captive Insurers

A FREE 16-page special report courtesy of Captive.com

Dig deep into important issues and trends in captive insurance. Download this FREE special report featuring practical knowledge and insights from nine respected captive insurance thought leaders!

Show Me My Free Report

Vermont Provides Most Current Captive Insurance Figures at VCIA Conference

VCIA Hot Topics 2017-SF
August 16, 2017

Vermont's most current captive insurance figures were outlined by Sandy Bigglestone, State of Vermont director of captive insurance, during a "Hot Topics" panel held August 10 at the Vermont Captive Insurance Association (VCIA) 2017 Annual Conference. Vermont's numbers, as follows, make it the leading captive domicile in the United States. 

  • Over $32.8 billion in gross written premium in 2016 (an increase of $5.2 billion from the prior year)
  • Over $202 billion in assets under management in 2016 (an increase of $5 billion from the prior year)
  • Nearly 1,100 overall total captive licenses with 584 active captive insurance companies, including 26 new captives licensed in 2016
  • Nine new captives have already been licensed in 2017 with three more about to be completed
  • Leader in the risk retention group (RRG) market—of 240–250 RRGs, 90 are in Vermont
  • Over 100 healthcare-related captives
  • Forty-three of the Fortune 100
  • Fifteen of the Dow Jones 30

The top 10 industries using captives in Vermont and the captive insurer counts for each of these industries are presented in the following table.

Health Care

102

Manufacturing

101

Insurance

76

Construction

36

Banking

31

Professional Service

28

Retail

25

Transportation

25

Energy

23

Real Estate

23

The chart below proportionally represents captives in Vermont, delineated by the type of captive (as of July 15, 2017). (Note: SPFI = Special Purpose Financial Insurers.)

 Vermont Captive Types 2017-SF

For comparative purposes, the total number of active captive insurance companies, by captive domicile, at the end of 2016 is listed below. The chart numbers were compiled by Strategic Risk Solutions earlier this year.

Bermuda

797

Arizona

113

Cayman

708

Kentucky

84

Vermont

584

District of Columbia

82

Utah

462

Oklahoma

75

Nevada

208

Missouri

48

Hawaii

207

Texas

32

North Carolina

190

Georgia

27

Montana

183

New Jersey

23

South Carolina

164

Michigan

20

Tennessee

141

Connecticut

15

Grand Total

4,163

Pictured above, from left, are "Hot Topics" panelists Julie Boucher, US Captive Solutions practice leader, managing director, Marsh Captive Solutions; Michael Scott, president, Agrinational Insurance Company; Dave Provost, deputy commissioner, Captive Insurance Division, State of Vermont, Department of Financial Regulation; Sandy Bigglestone, director of captive insurance, State of Vermont, Department of Financial Regulation; and Richard Cutcher, editor, Captive Review. Photo is by Jim Eaton, VCIA photographer.

Captive Insurance Company Reports
Follow Captive.com on Twitter

Twitter Feed