Arizona licensed 32 new captives in 2024, while seven surrendered their licences, taking the total number of captives domiciled in the State at the end of the year to 201.
Of the 32 new captives licensed in Arizona in 2024, 30 are single parent captives, while two are protected cell companies (PCCs).
Of the seven dissolutions, five were subject mergers and remain domiciled in Arizona.
Total captive premium at the end of 2023 was $11.96bn. The 2024 figure will be available later in the year.
Finance, health care, retail trade, energy, utilities, real estate and transportation are some of industries with captives domiciled in Arizona.
In July last year, Captive Intelligence revealed that Arizona was considering changes to its legislation that would allow captives to register as dormant, in addition to reducing minimum capitalisation requirements for captives that are not single parent.