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Thursday, May 15, 2014

Delaware Becomes Sixth Largest Captive Insurance Domicile!

Movin' on up like George and Weezie!

Insurance Commissioner Karen Weldin Stewart recently announced continued growth in Delaware’s Captive Program.

Delaware experienced a 40 percent increase in licensed captives in 2013; the year-end 2013 numbers are 298 licensed captives with 266 being active.

Captive insurance companies, which are owned by the entities that they insure, are usually formed by businesses that wish to better manage the cost and administration of their insurance coverage. In 2005, the Delaware General Assembly passed House Bill 218, modernizing Delaware law regarding the formation of captives and positioning Delaware to become a home to the growing number of captive insurance companies being created by companies worldwide. Delaware’s sophisticated corporate laws, judiciary and financial infrastructure make it the preeminent jurisdiction for business. These benefits are extended to captive insurance companies through the Delaware Captive Insurance Program.

For more information about Delaware’s captive insurance program visit http://captive.delawareinsurance.gov/

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Small Business Reading Room

Delaware Becomes Sixth Largest Captive Insurance Domicile!

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