Long reads

President Donald Trump’s ongoing tariff saga has led to increasing uncertainty, inflationary pressures, and supply chain issues that are causing a headache for captives and insureds.

After Hong Kong licenced the jurisdiction’s first captive licenced by a multinational enterprise, there is a real sense of momentum building in the domicile and an eagerness for further growth.

The WOWS Insurance Services PCC has been formed to provide full homeowners cover, including wildfire risk for high-value homeowners in California that are struggling to get sufficient coverage following a series of costly events.

Bermuda currently has 15 different licence classes, which Richmond says do not only distinguish the types of risk being written but also differentiate the investors and stakeholders involved.

Captives are an attractive proposition for the pharmaceutical, biotech and life science industries, due to a lack of appetite and capacity being offered by the commercial market, particularly for product liability cover.

Tennessee’s business friendly environment and ‘say yes’ attitude are two of the reasons behind the jurisdiction’s continued growth as a captive domicile.

Formations of new captives in the first quarter of 2025 were driven by real estate and construction companies with more than 20% coming from those sectors.

While the majority of captive owners were not directly impacted by the Los Angeles wildfires, the fallout from the blaze is leading to more companies exploring the possibility of utilising their captives to write weather-related property risks.