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Hawaii increases captive insurer count in 2015

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Hawaii regulators said Wednesday they licensed 19 captive insurers in 2015, up from 15 in 2014 and 17 in 2013.

Of the 19 formations, 18 were single-parent captives, and one was a risk retention group.

With 16 captives dissolving, the 19 formations in 2015 brought Hawaii's total number of captives licensed to a record 197.

“We continue to see positive growth in captive formations,” said Sanford Saito, Hawaii deputy commissioner and captive insurance administrator in Honolulu.

And captive growth is continuing in 2016, with one new captive licensed since the start of the year, and two applications pending, Mr. Saito said.