Hawaii added 14 captives to its ranks in 2023, taking the total in the domicile to 263.
Of the 14 new captives registered, 13 of them are pure captives writing direct risk and / or reinsurance business. The other is a leased capital facility captive.
Out of 263 captives in Hawaii, 222 are owned by US companies.
One of new captives registered, Fujitsu Insurance Limited is owned by Japanese communications technology equipment and services company, Fujitsu, with the company already owning an Isle of Man-domiciled captive.
Another of the new captives is owned by American multinational technology company, Nvidia.
There are also 41 Hawaii-domiciled captives in owned by companies outside of the US. Of those companies, 40 are owned by Asia and Pacific based companies, while one is owned by a European company.
Construction and real estate are the most popular industry with captives in the domicile at 75, followed by telecommunications and manufacturing with 54 captives. The third most popular industry is financial services with 42 captives.
Hawaii’s total gross written premium for 2022 was $15.6bn and its assets under management (AuM) is $34.5bn. The 2023 figures will be available later in the year.