Montana licensed 34 new captive insurers in 2012
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Montana licensed 34 new captive insurance companies in 2012, bringing the total number of captives in the state to 114.
According to data from the Montana Office of the Commissioner of Securities and Insurance reported by the Montana Captive Insurance Association Inc., the state's captives include 79 single-parent captives, 16 risk retention groups, 10 captive reinsurance captives, six protected cell captives, two association reciprocal insurers and one special-purpose captive.
In a statement, the MCIA said it is working with the state to improve Montana's captive law, including allowing the formation of series limited liability company captives.
