- Domiciles Continue Captive Formations in 2017
Even with a soft commercial market, U.S. and offshore domiciles continued to see a steady flow of new captive insurance company formations.
“With so many domiciles to choose from, it is important to match companies’ needs in a captive insurance domicile with a domicile’s strengths and experience,” said JLT Insurance Management (USA) LLC CEO Guy Ragosta. “An experienced captive insurance manager can help with this decision.”
JLTIM USA’s poll of captive insurance domiciles and statistics from industry publications show the following number of new formations in 2017: Arizona, 11; Bermuda, 17; Cayman Islands, 33; Hawaii, 30; Missouri, 8; Montana, 42; Nevada, 22; North Carolina, 57; South Carolina, 15; Tennessee, 9; Texas; 8; Utah, 60; Vermont, 24; and Washington D.C. 8.
Please note some of the domiciles listed have included the total number of captives with new cells, other domiciles have listed only new captives without the number of new cells.
Other domiciles will continue to report their growth in 2017 throughout the next few weeks.
Anne Marie Towle
Tel: +1 317 922 4390
Tel: +1 802 391 3081
NOTES TO EDITORS:
About JLT Insurance Management (USA) LLC
JLTIM USA is an independent, full-service captive insurance management and captive consulting company with a multi-domicile reach. JLTIM USA is a part of Jardine Lloyd Thompson Group.
About Jardine Lloyd Thompson
Jardine Lloyd Thompson is one of the world’s leading providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services. JLT’s client proposition is built upon its deep specialist knowledge, client advocacy, tailored advice and service excellence.
JLT is quoted on the London Stock Exchange and owns offices in 40 territories with more than 10,600 employees. Supported by the JLT International Network, it offers risk management and employee benefit solutions in 135 countries.
For further information about JLT, please visit our website www.jlt.com.
Disclaimer: This press release by JLT Insurance Management (USA) LLC is intended to provide only general information based on sources we believe are reliable. JLT Insurance Management (USA) LLC makes no representations or warranties, express or implied, as to the accuracy of any of the information herein, which is not intended to be taken as advice with respect to any individual situation and cannot be relied upon as such.
Any statements concerning tax, accounting, legal or regulatory matters should be understood to be general observations based solely on our experience as captive insurance management and captive consultants. We are not tax, accounting, legal or regulatory professionals and any such information provided is not professional advice. These matters should be reviewed with your own qualified advisors in these areas.