Market News

Cell Captives Made Up Most of Nevada's 29 New Formations in 2022

January 18, 2023

Nevada licensed 29 new captive insurance companies in 2022. Of the 29 new captives, 25 were protected cell captives and 4 were single-parent captives. Including cell captives, Nevada had 299 captives at the end of 2022, up from 295 in 2021. Read More

Zurich, ICS Form Sustainability-Focused Envision Re Group Captive

January 17, 2023

Zurich North America and Innovative Captive Strategies (ICS) have collaborated to form Envision Re, Ltd., a group captive insurance company focused not only on members' risk management programs but also their sustainability efforts. ICS will manage the Envision Re captive. Read More

Inflation, Climate Risks Top 2023 World Economic Forum Report

January 16, 2023

While the cost-of-living crisis is seen as the greatest risk over the next 2 years, environmental and climate risks dominate the list of top risk concerns over the next decade, according to "The Global Risks Report 2023" from the World Economic Forum (WEF). Read More

Arizona Added 14 Captives in 2022, Bringing State's Total to 162

January 16, 2023

Arizona licensed 14 new captive insurance companies in 2022, down from 27 in 2021 but still the state's second-highest number of formations over the last 14 years, the Captive Insurance Division of the Arizona Department of Insurance and Financial Institutions recently reported. Read More

South Carolina Added 27 Captives in 2022, State's Total Grows to 208

January 13, 2023

South Carolina licensed 27 captive insurance companies in 2022, up from 21 formations in 2021, bringing the state's total number of captives to 208. In addition to new captive formations, existing South Carolina-domiciled captive insurance companies are expanding by taking on more risks. Read More