The Hawaii Department of Commerce and Consumer Affairs issued 30 new captive insurance licenses in 2017, according to its year-end statistics.
Of the 30 licenses issued, 24 were pure captives, two were risk retention groups, three were reinsurance companies and one was a leased capital facility captive.
The department’s year-end statistics show that as of 31 December 2017 Hawaii had a total of 230 active domiciled-captive insurers, 202 of which are US-owned, while the remaining 28 are Japanese-owned.
Of the 230 captives domiciled in the state, 71 are from the construction and real estate industry, 41 are from the telecommunications and manufacturing industry, 30 are from the healthcare industry, 34 are from the financial services industry, 26 are from the transportation and energy sector, and 28 are from retail and other services.