The number of captives domiciled in Kentucky in 2023 has remained the same as 2022, with 32 captives domiciled in the State.
Despite captive numbers staying stable, premium increased from $78m in 2022 to $129m in 2023.
Assets under management (AuM) increased slightly year-on-year from $77m to $77.3m.
Captive Intelligence understands the jump in premium is the result of some captives curtailing the amount of risk they were writing during the Covid pandemic, with premium now returning to previous levels.
There were zero captive dissolutions in 2023, compared to two dissolutions in 2022.
Of the 32 captives licenced in Kentucky, 23 are single parent captives, three are Risk Retention Groups (RRGs), and six are group or association captives.