Nevada’s Captive Domicile Growth Rises by $3.8B in Premium

March 5, 2015

The captive insurance program in Nevada outperformed growth and speed expectations by approving 26 captives in 2014, which resulted in a captive premium increase of $3.8 billion, Insurance Commissioner Scott J. Kipper announced on Thursday.

He said 2014 was once again a record breaking year for Nevada’s captive insurance industry. The state now has 160 domestic captive insurers, the most in the history of its captive insurance program.

Nevada Insurance Commissioner Scott J. Kipper
Nevada Insurance Commissioner Scott J. Kipper

Nevada continues to offer a rapid yet thorough application approval process and pure captive application fees will continue to remain at just $1,050, Kipper said.

Nevada has licensed more than 200 captives since the inception of its captive insurance program in 1999. Industries listed among Nevada’s captives include: Bio-tech; alternative energy; multi-national transportation; manufacturing; and financial.

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