Tennessee now hosts 176 captives and 591 cells, including 52 captives licensed in 2024, according to the Tennessee Department of Commerce and Insurance.
These figures place Tennessee as the 8th largest captive insurance domicile in the US and 13th globally.
The department notes that the growth is attributed to favourable legislation and targeted efforts to support captive insurance managers.
Risk-bearing entities in the state have grown by 14 per cent year-to-date, reaching a total of 767. This includes a six per cent increase in pure or single-parent captives and an eight percent rise in protected cells.
According to the department, the private sector has contributed to this expansion, with more companies choosing Tennessee to establish or relocate their captives. Furthermore, the Tennessee Captive Insurance Association has been instrumental in advancing the industry’s development.
A network of local service providers has also played a role in attracting more captive owners to the state.
