Vermont has added 15 new captives to it roster during the first quarter of 2024, taking the total number of captives in the domicile to 669.
These figures present a strong start to the year for the world’s most popular domicile which licenced 38 captives in the whole of 2023.
Captive Intelligence understands the parent company of Kraft Green Mountain LLC, one of the new captives in Q1, is the Kraft Group, owners of the New England Patriots and several other sports teams and business interests.
Kraft Green Mountain is manged by AIG.
In September last year, Captive Intelligence understands the NFL formed 1920 Risk Assurance captive in Vermont, managed by Marsh.
Five of the 15 new captives in Vermont are managed by Aon, four are managed by Marsh, two are managed by NFP, two are managed by Artex, one is manged by AIG, one is managed by Advantage Insurance Management, and one is managed by Global Insurance Management & Consulting.
Captive Intelligence published a Long Read in August highlighting that Vermont is not resting on its laurels having recently taken top spot for number of active captives, with a focus on “quality over quantity” and a continued recruitment drive both within the regulator and across the local industry.