Texas sees four new captives in 2019
The Texas Captive Insurance Association revealed it licensed four new captives in 2019, taking the total number of active captives to 45.
The domicile saw steady growth after it formed the same number of new captives the previous year, although this is a decrease from the eight it licensed in 2017 and 13 in 2016.
The association statistics also showed that there was one captive closure last year.
Texas’ captive law only allows single-parent captives and precludes companies from outside the state, or without a significant interest or operation in the state, from forming a captive.