Tennessee Captive Growth Continues into 2025 with Rising Numbers and Premiums

Tennessee licensed 11 new captives in 2024, as well as 94 new cells, bringing its captive count to 176 active captives and 645 active cells.

In addition, captive premium rose in 2024 to $2.9 billion, up from $2.41 billion in 2023.

Also, captive growth is continuing, with Tennessee currently having 182 captives and 657 cells as of early 2025.

"By combining responsible regulation, a modern captive insurance statute, and a team of customer-focused professionals, Tennessee continues to distinguish ourselves among captive managers as the perfect place to call home when establishing a captive insurance domicile," said Tennessee Department of Commerce and Insurance (TDCI) Commissioner Carter Lawrence in Nashville.

Captive regulators believe captive growth will continue in Tennessee.  "I firmly believe that sustained year-over-year growth, good relationships, and connectivity with our customers will continue to incentivize other companies to use establishing a captive in Tennessee for risk-financing needs," added TDCI Captive Section Director Mark Wiedeman.