Connecticut continues to develop its captive insurance coverage trade, including 9 new captive insurers in 2024 for a 17% enhance over the earlier 12 months.
Along with the 9 new captives, the state insurance coverage division additionally permitted 17 new captive protected cells in 2024, a 64% progress over 2023. Protected cells function as separate entities permitting particular person companies to handle their dangers independently inside a single sponsored captive insurer. This brings the full variety of captive risk-bearing entities to 100.
This marks 5 straight years of progress, in accordance with Insurance coverage Commissioner Andrew N. Mais.
“To see Connecticut’s emergence as a formidable captive domicile is rewarding however not sudden,” Mais stated, citing the “Insurance coverage Capital’s” robust insurance coverage trade ecosystem {and professional} workforce.
“As dangers evolve so does the necessity for insurance coverage and danger financing, and captives might be a super resolution for a lot of enterprise house owners,” Mais stated.
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Connecticut
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