Vermont continues to lead in the captive market but must keep up with liberalizing market trends spreading across the US
Vermont is a major hub for captive insurance—the largest captive insurance domicile in the US and the third biggest in the world in terms of the number of active captives.
Vermont has 1,137 total captive licences overall, with 558 active captives. Vermont licensed 25 new captives in 2018 and had 24 new captives licensed in 2017, showing its continued growth.
Ian Davis, director of financial services at the Vermont Department of Economic Development, says: “We are very proactive in terms of our marketing, communications and outreach efforts. The aim, ultimately, is to help ensure that the captive concept is well understood and communicated, including the benefits of being in a reputable onshore jurisdiction like Vermont.”