The Arizona Captive Insurance Department has licensed 11 new captives as of 31 December last year, compared to the seven in 2016.
Arizona now has a total of 80 pure captives, 22 pure reinsurance captives, five industry group captives, two association captives, one agency captive, one protected cell company and 10 risk retention groups.
Of the 121 captive insurers domiciled in the state, 27 of them are from the healthcare and social assistance industry; 27 are from the finance and insurance industry; 17 are from the construction sector; eight are from the transportation and warehousing industry; 10 are from manufacturing; four from retail trade; and 28 from the other category.
The figures also showed that three captive licenses were terminated last year.
