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DOMESTIC AND FOREIGN DOMICILES

 

Due to the hard insurance markets in the 70s and 80s nearly all of the captives formed during that period were attracted to offshore domiciles. Offshore domiciles offered low capitalization requirements, favorable tax treatment, and a professional insurance infrastructure. U.S.-parent companies flocked primarily to Bermuda and the Caymans. U.K.-parent companies often went to Guernsey, the Isle of Man and Bermuda, while European parent companies frequently chose Luxembourg or Bermuda.

 

 

Within the United States, the State of Vermont has been the leading captive insurance domicile with almost three times the number of captives as all other U.S. domiciles combined. Other popular U.S. captive domiciles include Hawaii, Montana, Washington DC, Nevada, Arizona, Utah and South Carolina. In total there are 20 states acting as domiciles. Worldwide, the top domiciles as measured by the number of licenses issued are Bermuda, the Cayman Island, Vermont, and Guernsey, Hawaii and South Carolina.

 

 

F. Darrell Lindsey

State Approved Captive/RRG Manager

U.S. State Licensed Agent/Broker

 

 

 

 

 

 

 

 

 

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