Vermont Captive Growth Continued in First Half with 22 New Licenses

Vermont, by far the largest captive insurance domicile in the United States and the world's third largest, licensed 22 captives during the first 6 months of 2023, according to statistics recently released by the Vermont Department of Financial Regulation.

Of those 22 new captives, 15 are pure captives, 5 are sponsored captives, 1 is a risk retention group, and 1 is an association captive.

In addition, the new captives are spread among a wide range of industries, including real estate, manufacturing, insurance, retail, and agriculture.

As June 2023 ended, Vermont had a total of 654 captives. That count includes 28 dormant captives.

Since 1981, when Vermont lawmakers passed the state's captive insurance statute, the domicile has licensed 1,305 captives, though 651 have been dissolved.