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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.
During 2011, eight captives became inactive—one as a result of a merger, two because of redomestication, and five as a result of winding up business. Kentucky had 127 captives at the end of 2010.
According to the Kentucky Captive Assn., the new licenses issued in 2011 were for single-parent captives, bringing the totals in the state to 125 single parent captives, four risk retention groups and eight group captives.