The Carribean and the Asia Pacific region have shown the most robust growth in terms of number of captive insurance companies over the past five years, up 9 percent and 11 percent, respectively, according to a report from Marsh.
The 2019 Captive Landscape Report, which examines trends among 1,100 captives managed by Marsh Global Solutions worldwide, also revealed that growth in captives was slower over the same period in the Middle East, up 3 percent, and Latin America, 1 percent.
The Middle East leads in terms of growth in the number of captive parent companies over the past five years, up 33 percent, however, the report notes that this growth is somewhat skewed by the small number of captives in the region.
Also showing large growth in the number of parents companies over the same period is Asia Pacific, up 24 percent, the Carribean, up 18 percent, and Latin America, up 17 percent.
The Asia Pacific captive market has also seen a significant increase in gross premium over the past five years, rising 116 percent to $1.1 billion.
As a region, Europe, the Middle East and Africa has seen a smaller growth in gross premium, an increase of 4 percent over the same period to $5.7 billion.
Ellen Charnley, president, Marsh Captive Solutions, commented: “Captives in all their forms–including single-parent entities, group captives, protected cell captives, and special purpose vehicles–prove their value every day for a wide variety of industry sectors and types of risks.”
