Montana licensed 12 pure captives and two protected cell companies during 2023, plus 37 series business units and two protected cells.
In total, the State had 108 active captives at 31 December, 2023 composed of 84 pure captives, 14 protected cell companies and seven risk retention groups (RRGs).
In addition, it has 154 individual cells and series business units.
Of the 51 new captives licensed in Montana in 2023, 12 are single parent captives, 2 are protected / sponsored cell captives, and 37 are series captives.
There were 24 captive dissolutions in 2023 compared to 18 in 2022.
Montana’s total gross written premium (GWP) for 2022 was $395m, with $118m coming from direct premium and $277m from reinsurance premium.
The 2023 premium will be available later in the year.