Delaware’s Insurance Commissioner Karen Weldin Stewart announced Monday the state grew its number of captive insurers in 2013.
The regulator said year-end 2013 numbers are 298 licensed captives (with 266 being active), up 41 percent from 212 licensed captive insurers (with 192 being active) at the end of 2012.
“Delaware service providers, such as attorneys and accountants, are providing services to the captive industry at a greater rate than at any other time in the department’s history,” Commissioner Stewart said. “This shows that the captive bureau is meeting, and even exceeding, its statutory mission of expanding economic development.”
Delaware is currently the third-largest U.S. domicile and the sixth-largest domicile globally for captive insurers, according to Delaware’s Department of Insurance.
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