Vermont's Captive Insurance Industry Sets New Records
Vermont licensed 41 new captive insurance companies in 2024, marking one of the top ten growth years since its captive legislation began in 1981. As of year-end 2024, the state hosts 683 licensed captives—654 active and 29 dormant—with a total of 1,370 captives licensed to date. Growth continued into 2025, with eight additional captives licensed in the first week of January. Newport captives spanned 16 industries and featured a mix of pure captives, sponsored captives with over 30 new protected cells, a special purpose finance insurer, and a risk retention group. Vermont received multiple industry accolades in 2024, and initiatives like the Emerging Leaders program further support its reputation and future leadership in captive insurance.
Source: Reinsurance News
