The Vermont Department of Insurance licensed 26 new captives in 2016.
This was down slightly from 2015, when Vermont licensed 33.
Out of the 26 new captives, Vermont welcomed one association captive, one industrial insured and one sponsored in 2016, plus three special purpose financial insurers, five risk retention groups, and 15 pure captives.
In terms of sectors, healthcare led the way with eight, followed by manufacturing (five), insurance (four), construction (two), real estate (two), retail (two) and finance (one), as well as two captives that were uncategorised by the Vermont Department of Insurance.
Last year marked the 35th anniversary of the implementation of Vermont’s landmark 1981 captive insurer statute.
