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HONOLULU—Hawaii licensed 10 new captive insurance companies in 2011 across a broad range of businesses, the insurance division of the Hawaii Department of Commerce and Consumer Affairs announced Thursday.
Five Hawaii captives closed during 2011, bringing the total number of active captives in the domicile to 172 at the end of last year.
In a statement, the state’s insurance division said Hawaii has received five applications for captive licenses so far this year.
This year is the 25th anniversary of the formation of the first Hawaii captive, and the insurance division said it expects total captive assets in the domicile to top $10 billion this year.
FRANKFORT, Ky.—Kentucky licensed 18 new captive insurance companies in 2011, bringing the total number of active captives in the state to 137 at year’s end.