Hawaii has celebrated its 30th anniversary of establishment in the captive insurance industry.
The captive insurance legislation was enacted into law on 29 May 1986. Since that date it has been ranked fifth largest US captive domicile based on the total number of active captive licenses.
It has also written more than $4.34 billion in premium volume, invested over $1.26 billion in assets through Hawaii banks and financial institutions and generated more than $21.8 million in economic benefits.
Hawaii Insurance Commissioner Gordon Ito, commented: “The captive insurance market is becoming increasingly competitive with additional domiciles vying for the attention of companies.”
“With Hawaii captive branch’s team of experts, dedication and efficiency, we are able to continually attract captive owners from the US and abroad that want to leverage our expertise to help them achieve their risk management objectives.”
