Hawaii Marks 40 Years as Captive Insurance Leader

Hawaii is celebrating 40 years as a captive insurance domicile, marking 4 decades of growth that have established the state as a leading global jurisdiction for captive insurers.

Since adopting captive insurance statutes in 1986, Hawaii has grown to 274 active captive insurance companies. The state reported more than $18 billion in premiums written last year, while the industry invests approximately $2.7 billion annually through Hawaii financial institutions and generates more than $46.3 million in direct local expenditures.

State officials, captive owners, legislators, representatives from the Hawaii Captive Insurance Council, and business leaders gathered at the Bishop Museum on O'ahu to commemorate the anniversary and recognize the partnerships that have supported the industry's development.

"As we celebrate this milestone, we also look to the future," Gov. Josh Green said. "Hawaii is dedicated to supporting the captive insurance industry for many years to come."

Hawaii officials said the state's captive insurance sector has benefited from a collaborative regulatory approach designed to balance industry responsiveness with financial oversight and solvency protections.

"Hawaii's success in the captive insurance sector is rooted in a commitment to collaboration, sound regulation, and sustained growth," Andrew Kurata, captive insurance administrator and deputy commissioner, said. "Over the past 4 decades, we have worked closely with industry partners to create a business-friendly environment that supports both innovation and accountability."

State officials also pointed to recent legislative action approving a pilot risk-based supervisory model as part of ongoing modernization efforts. Hawaii maintains a full-time, 16-member team dedicated to captive insurance regulation and oversight, distinguishing it from many competing jurisdictions.

The state said its experience and infrastructure continue to support a broad range of captive insurance companies operating in Hawaii and internationally.

More information about Hawaii's captive insurance program is available at cca.hawaii.gov/ins/captive-insurance/.