Utah licenses 38 captives in 2018
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Utah licensed 38 new captives in 2018, according to figures from the Utah Department of Insurance.
Last year, 35 captives and three cells were formed in the domicile, while 61 captives and 16 cells were closed, according to the department. That brings the total number of active licenses to 441.
Utah was the fourth-largest domicile for captive formations, after Bermuda, Cayman Islands and Vermont, according to Business Insurance’s annual ranking of captives published last year.
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