Arizona licensed seven new captives in 2015
The Arizona Captive Insurance Division approved seven new captives in 2015.
The seven new entities were made up of five pure captives and two pure reinsurance captives.
Although Arizona licensed seven captives, 11 captives terminated their contracts, meaning the state suffered a net loss of four and was 4 percent down on 2014’s activities.
Arizona currently licenses 110 captive insurance entities, a decrease on 2014’s figure of 114.
The captives licensed in 2015 came from a range of industries, including financial, scientific and transportation.
Captives that are active in Arizona include Apple Insurance Company, Hyundai Capital Insurance Company and Heinz-Noble.
