Insurance Division Licenses 30 New Captives in 2017

The Insurance Division of Hawaii’s Department of Commerce and Consumer Affairs licensed 30 new captive insurance companies in 2017, an amount the agency said ties the most captives licensed in a single year since the captive insurance law took effect in 1986. The division licensed 24 pure captives, two risk-retention groups, one sponsored captive and three reinsurance-only captives. Nineteen of the captives are located in the U.S., and 11 are based out of Japan. As of Dec. 31, there were 230 active, licensed captives domiciled in Hawaii, the division said. “The quantity and ...