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Vermont licenses 32 new captive insurance companies in 2012

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Vermont reported Wednesday that it licensed 32 new captive insurance companiess in 2012, bringing the total number of active captives in the state to 588 at the end of the year.

The new captives included 28 single-parent captives, three sponsored captives and one risk retention group, according to the state.

Vermont licensed 41 captives in 2011.

The construction and manufacturing sectors each represented five of the new 2012 captives, according to a statement, with nonprofits also well-represented among the 2012 formations.

Vermont has licensed two new captives so far this year, both from the health care sector, according to the state.