The Arizona Captive Insurance Department has licensed four new captives as of 30 June this year, a 3 percent increase from year-end 2015, according to a new report published by the department.
The department now has a total of 73 pure captives; 21 pure reinsurance captives; four industry group captives; two association captives; two agency captives; one protected cell; and 10 risk retention groups.
Of the 113 captives domiciled in Arizona, 26 belong to the health care and social assistance industry; 26 to the finance and insurance industry; 15 to construction; seven to transportation and warehousing; nine to manufacturing; five to retail and 25 to other industries.
In 2015, the state licensed seven new captives however, it also suffered 11 terminations and reported a net loss of 4 percent in captive growth.
