Delaware Department of Insurance, Bureau of Captive & Financial Insurance Products

With over 650 captive insurance companies—including series captives, Delaware is one of the largest domiciles. Captive managers often cite the accessibility, high quality, innovation, and stability of the state's captive regulators as key reasons for the continued domiciling of captives in Delaware.

"It is refreshing, indeed, to work with Delaware's captive regulatory team. They are knowledgeable, inquisitive, flexible, and willing to assist captive owners and managers in structuring their captive insurers," said Michael W. Teichman, president of the Delaware Captive Insurance Association.

Company Contacts

Insurance Commissioner
(302) 674–7300
Director
(302) 577–5280

Mailing Address:
503 Carr Rd., Ste. 303
Wilmington, DE 19809

Captive Domicile Summary

Delaware captive regulators are highly experienced. "That expertise is a major advantage of the Delaware captive program and is a great asset for captives domiciled, or looking to domicile, in Delaware," said Stephen Taylor, director of the Delaware Bureau of Captive & Financial Insurance Products at the Delaware Department of Insurance.

"Captive managers value the collaborative, flexible, and innovative nature of Delaware's captive team and feel comfortable in reaching out to present their captive insurance concepts and strategies,"  Mr. Taylor added.

Yet another appeal of Delaware as a captive domicile is the willingness and ability of state legislators to consider and enact legislation to update Delaware's captive laws, as well as the corporate law, to support the captive insurance industry. Additionally, the Department of Insurance regularly reviews and updates its regulatory policies and procedures.

Last year, for example, the department implemented Delaware Captives 2.0, which was a series of regulatory and speed to market improvements developed in partnership with the Delaware Captive Insurance Association (DCIA). The initiative recalibrated the state's captive regulatory processes and policies to ensure Delaware remains a top domicile for businesses seeking to form or expand captive insurance companies.

"As global leaders in captive insurance, we recognize that we must continue to explore improvement, innovation, and industry insight," said Insurance Commissioner Trinidad Navarro. DCIA President Michael Teichman added "Delaware has been a top global captive domicile since revamping its captive insurance statute almost 18 years ago. While we believe Delaware continues to have much to offer, we recognize other domiciles are not standing still, and we cannot rest on our laurels. Over the past year we have enjoyed the opportunity to work with Commissioner Navarro and Bureau Director Taylor to develop these helpful and timely domicile improvements."

Mr. Taylor indicated the department is currently working to draft legislation to provide additional captive insurance options for business.

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Captive Domicile Statistics

Total Captive Count* Delaware
Year Captives
2024 660
2023 670
2022 735
2021 759
2020 793
*Includes series captives
Captives' Gross Written Premiums Delaware
Year Premium Volume
2023 $3.77 billion
2022 $4.6 billion
2021 $5.0 billion
2020 $5.4 billion
2019 $5.3 billion