Sunday, April 21, 2024

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Captive formation activity in 2023

Collecting and making sense of captive insurance statistics is not a straightforward task, but this data, if collated, contextualised and communicated properly, provides valuable insight for the industry on trends and, in particular, new business activity.

Captive Intelligence is in direct contact with captive and insurance regulators in more than 60 domiciles around the world as they report their year-end numbers.

Our approach is to contact each regulator directly with questions regarding new captive licences issued during the calendar year, number of surrendered licences, year-end totals, breakdown by type of captives and the latest premium and assets under management (AuM) amounts.

Every domicile defines and counts captives in a slightly different way, while definitions and names of captive types vary too. Some domiciles struggle to provide breakdowns, but it is our aim to work with regulators to best understand and communicate their numbers as accurately as possible.

Some rules and definitions we follow that are important to note when using and understanding the below data:

  • This is a live table that is updated when new data is provided to Captive Intelligence.
  • We only publish data when we have verified numbers provided directly to us from the relevant regulatory body.
  • The core of cell or ‘sponsored’ captive structures (ie. PCC, ICC, SPC, SAC, Series) are included in our captive count, but individual cells and series are not.
  • We do collect individual cell and series data where domiciles provide it, and we will list those numbers, but the industry does not currently have a consistent approach.
  • Group and Association captives are counted together under ‘group’.
  • We have included the latest available Premium and Assets under Management (AuM) data provided by domiciles. In most cases this is from 2021, with 2022 updates expected from April this year.

Captive Intelligence will be adding further tables displaying all the statistics from other regions and domiciles as we receive them in the coming weeks.

UNITED STATES

EUROPE

BERMUDA & CARIBBEAN

ASIA PACIFIC & MIDDLE EAST