Delaware Reports Another Record Year for Captive Growth
Onward and upward for the Captive Insurance Industry in Delaware!
The Commissioner’s captive bureau reported that in 2014 it licensed 87 captive insurers and 141 series business units. Since inception, the captive program has licensed 385 captive insurers, 753 series business units, and 13 cells. Today the program boasts 333 active captive insurers, 688 active series business units, and 12 active cells.
Captive insurance companies are owned by the entities that they insure, and are formed by businesses who wish to better manage the cost and administration of their own risk. Today Delaware is the world’s sixth largest and the country’s third largest captive domicile. Delaware’s sophisticated corporate laws, financial infrastructure and respected judiciary make it the preeminent jurisdiction for business. These benefits are extended to captive insurance companies through Delaware’s Bureau of Captive and Financial Insurance Products.
To learn more about Delaware’s captive insurance bureau please visit http://captive.delawareinsurance.gov/