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Captive-Trends 2018

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SRS Charts the Total Number of Active Captives for 2017

Up and Down Graph 480x377
March 02, 2018

Charts on the total number of active captive insurance companies were compiled by Strategic Risk Solutions (SRS) and presented at a recent SRS webinar, "The State of the Captive Insurance Market." The charts include captive counts, by captive domicile, for key US and international domiciles. For 2017, the number of active captives for 20 key US domiciles was flat (0.7 percent increase) while the number of active captives in 10 key international domiciles was in slight decline (-2 percent decrease).

Total Captive Insurers Worldwide

According to SRS, while the industry growth rate for the number of captives worldwide has slowed down (less than 1 percent year over year for the past 3 years) for the domiciles that share such data, there has been an increase in terms of captive premium and total assets. Per the table below, SRS shared information on recent worldwide captive growth according to data collected by Business Insurance. SRS estimates that there will be a slight decline in the total number of captives worldwide in 2017.

Total Captives Worldwide

Year

Number of Captives*

2005

4,881

2006

4,951

2007

5,119

2008

5,211

2009

5,525

2010

5,587

2011

5,831

2012

6,125

2013

6,420

2014

6,739

2015

6,851

2016

6,700

2017

6,647

*Number of captives excludes cells and series

Total Active Captive Insurers for Key US and International Domiciles

SRS charted active captive insurance companies for key domiciles, including each domicile in which SRS is active. The numbers provided by domicile in the tables below are not a comprehensive analysis of global captives. However, SRS believes that this selection is representative of captive activity overall.

US Domicile Activity 2017 (20 Key Domiciles)*

 

Total

New

Closures

Change

Vermont

566

24

42

-18

Utah

414

57

104

-47

Delaware

381

53

47

+6

Hawaii

230

30

8

+22

North Carolina

224

57

11

+46

Nevada

203

22

19

+3

Montana

165

13

33

-20

South Carolina

155

14

3

+11

Tennessee

146

13

6

+7

Arizona

121

11

3

+8

DC

100

4

3

+1

Oklahoma

73

14

16

-2

Kentucky

65

4

23

-19

Alabama

50

5

3

+2

Missouri

48

4

4

Texas

38

8

2

+6

Georgia

42

18

4

+14

New Jersey

23

1

2

-1

Michigan

22

3

1

+2

Connecticut

14

0

1

-1

Total**

3,090

355

335

+20

*According to SRS, there are 30 US states with active captives managed in their states, and there are over 35 US states with captive legislation.

**Number of captives excludes cells

 

International Domicile Activity 2017 (10 Key Domiciles)

Offshore

 

Total

New

Closures

Change

Bermuda

739

17

54

-37

Cayman

696

33

48

-15

Barbados

262

20

4

+16

Europe

Guernsey

315

9

15

-6

Luxembourg

204

3

7

-4

Isle of Man

108

1

3

-2

Ireland

83

1

3

-2

Switzerland

34

1

0

+1

Malta

10

0

0

0

Gibraltar

10

1

2

-1

Total*

2,461

86

136

-50

*Number of captives excludes cells

Total Number of Active Cell Captives for Key US and International Domiciles

For the same key domiciles indicated above, SRS also compiled numbers on cell captive activity for 2017. The number of cells has increased significantly in US (+3.5 percent) and international domiciles (+3.3 percent). SRS believes that 2017's significant cell growth was due to the availability of new structural options, the marketing efforts by cell facility owners, and the fact that compliance concerns are managed by the cell sponsor, not the cell owner. Again, the numbers below are not a comprehensive analysis of global cells.

2017 Captive Industry Activity – Cells In Key Domiciles (US and International)

 

Total Active

Change

Percent change

Cells International

1,202

+36

3.1%

Cells US

1,797

+61

3.5%

Total Entities

2,999

+97

3.3%


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