The state of Arizona’s captive insurance market is set to surpass its net growth for 2013, with a total of 111 captives domiciled as of 30 September 2014.
Up until September, Arizona’s Captive insurance Division licensed eight captives and dissolved, redomesticated or withdrew three.
This resulted in a net growth of almost 5 percent for the nine-month period, only 1 percent behind the state’s full year net growth for 2013.
The state is also waiting on the authorisation of three other pending captives according to the most recent official statistics.
Since its inception in 2002, Arizona’s captive sector has licensed a total of 167 captives.
Permitted coverages under the state’s law are commercial property and casualty, surety, life and disability.
These can be organised as stock, mutual, reciprocal, not-for-profit, or limited liability company.
