HAWAII GREENLIGHTS CAPTIVE

May 21, 2001

Hawaii Governor Benjamin Cayetan approved the recent incorporation and licensure of Heiwa Insurance Inc., the state’s first captive insurance company which is directly owned by a Japanese corporation and insures risks situated in Japan. Licensed on March 30, 2001, Heiwa Insurance Inc. is owned by Heiwa Corporation of Japan, a publicly traded entity. To date, Hawaii has licensed 96 captive insurance companies, which by the end of 2000 had nearly $1.6 billion in total assets, authored $264 million in premiums, and maintained $275 million in investments through local Hawaiian financial institutions.

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Insurance Journal West May 21, 2001
May 21, 2001
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