Hawaii Reports Strong Ties at Japan Captive Seminars

The Hawaii Department of Commerce and Consumer Affairs (DCCA) Insurance Division reported in a recent newsletter that it attended the 2024 Japan Captive Seminars in Tokyo. Hosted by the Hawaii Captive Insurance Council, the event drew nearly 400 participants, including representatives from Japanese companies and industry service providers. Sessions covered captive insurance fundamentals and risk management, with speakers from the United States and Japan.

The DCCA reported that Hawaii officials presented on the state's captive insurance industry and met individually with current and prospective captive owners. Hawaii states that 44 Japanese-owned captives are currently domiciled in the state. In 2023, these captives wrote over $1.1 billion in premiums and contributed more than $1.5 million in direct economic benefits through professional services and expenses. Additionally, more than $209.4 million in capital from these companies is invested in or managed by Hawaii-based financial institutions.

According to the DCCA, Hawaii has a longstanding relationship with Japan, strengthened by geographical proximity and business ties. The state continues to position itself as a strategic partner for Japanese firms seeking captive insurance solutions.