Kentucky licensed seven new captive insurance companies last year, an increase on the four new captives licensed in 2017.
Figures from the Kentucky Division of Insurance revealed that there were eight captive dissolutions in 2018, meaning that the number of dissolutions fell (from 23 in 2017) and the number of formations rose.
Aggregate premiums also rose last year, reaching approximately $108 million, up from $90 million the previous year.
A net reduction of one captive last year means at year-end 2018 there were 64 licensed and active captives in the Bluegrass State.
All seven new formations were pure captives, meaning the breakdown of captives in the state was: 53 pure captives, eight group/association captives, and three risk retention groups.
