Successful 2017 for Hawaii’s Captive Insurance Industry
The
The newly licensed captives are comprised of 24 pure captives, 2 risk retention groups, 1 sponsored captive, and 3 reinsurance only captives, with 14 of the captive owners located in the
As of
"The quantity and quality of new captive insurance companies in 2017 proves the strength of
"A main reason for success is the State's experience and ability to foster collaborative partnerships with captive owners and its service providers to achieve risk management objectives. Our dedicated captive insurance staff, knowledgeable service providers, and prudent regulatory environment all help to make
In 2016,
Captive insurance is a regulated form of self-insurance formed by companies or groups of companies as a form of alternative insurance to better manage their own risk. Captives are typically used for corporate lines of insurance such as property, general liability, products liability, or professional liability.
About the Captive Insurance Branch:
The Captive Insurance Branch was established to provide dedicated resources to assist the Insurance Commissioner with monitoring, regulating, and developing captive insurance companies in
The Hawaii Insurance Division oversees the
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