The North Carolina Department of Insurance (NCDOI) has licensed 336 captive insurance entities since October 2013.
The 336 captives include 96 captive insurers and 240 cells or series.
NCDOI has licensed 44 captive insurers since year-end 2014, while the number of cells or series has almost doubled.
The state’s 2014, its first full year in the captive business, was equally impressive.
As of 1 February 2015, NCDOI had approved 53 captives, with 49 of those approved during 2014.
Insurance commissioner Wayne Goodwin said that North Carolina’s captive programme has continued to exceed expectations as it begins its third full year of operation.
“From the start, we have been committed to growing and continually improving the captive insurance programme in North Carolina. I’m proud that, in such a short time, we have become one of the fastest growing states for captive insurance in the country.”
