The Nevada Division of Insurance issued three captive licenses last year, a significant drop in comparison to the 22 captives licensed in 2017.
Figures from the Nevada Division of Insurance revealed there were 19 captive closures in 2018, which matched the 19 closures from the year before.
The new licences and closures mean that at year-end 2018, there were 185 captives licensed in the state, of which the Department of Insurance estimated 175 are active.
The department has been in the process of winding up inactive companies over the past few years.
The lion share of captives in the state are pure captives (153), with risk retention groups the second most popular structure (14), followed by association captives (eight), agency captives (two) and one branch captives.
There are seven sponsored captives, with 120 sponsored cells.