British Columbia (BC) licensed one new captive insurance company last year, according to statistics from the BC Financial Institutions Commission.
The Financial Institutions Commission’s statistics also revealed that the number of formations in 2018 were consistent with 2017 when one captive was also licensed in the domicile.
The figures also showed that one captive was closed in the jurisdiction last year.
Canada’s only domicile with captive legislation, BC was established in 1988, and at year-end 2018 had 21 active captives licensed in the state.
The 21 captives in BC, are made up of 16 pure captives and five association captives.
The BC Financial Institutions Commission declined to comment on the statistics for 2018.
