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Top 20 Global Captive Domiciles, 2022-2023

    Number of captives
Rank Domicile 2022 2023
1 Vermont 639 659
2 Cayman Islands 642 (1) 658 (1)
3 Bermuda 633 (1) 633 (1)
4 Utah 412 (2) 439
5 North Carolina 294 311
6 Delaware 319 (2) 289
7 Barbados 261 (2) 267
8 Hawaii 255 263
9 South Carolina 209 (2) 221
10 Guernsey 203 (1) 199 (1)
11 Luxembourg 195 195
12 Arizona 162 176
13 Tennessee 150 162
14 District of Columbia 113 120
15 Montana 101 100
15 Nevada 155 100
17 Isle of Man 99 (2) 98
18 Nevis 102 94
19 Singapore 82 87
20 Texas 72 (2) 79
  Total, top 20 5,098 5,150
  Total, all captives 6,093 6,181

(1) Business Insurance estimate.
(2) Restated.

Source: Business Insurance, April 2024.

Top 20 Global Captive Domiciles, 2021-2022

    Number of captives
Rank Domicile 2021 2022
1 Bermuda  670 (1) 660 (1)
2 Cayman Islands  661 650 (2)
3 Vermont  620 639
4 Utah  386 (2) 419
5 Delaware  313 330
6 Barbados 308 (2) 315
7 North Carolina 257 294
8 Hawaii  250 (2) 255
9 South Carolina  183 205
10 Guernsey 192 201
11 Luxembourg 192 195 (2)
12 Arizona  149 162
13 Nevada 161 155
14 Tennessee 148(2) 150
15 District of Columbia  112 113
16 Nevis 122 102
17 Montana 102 101
18 Isle of Man  99 98
19 Singapore  84 82
20 Texas 54 73
  Total, top 20 5,063 5,199
  Total, all captives 6,074 6,191

(1) Business Insurance estimate
(2) Restated

Source: Business Insurance, March 2023.

Top 20 Global Captive Domiciles, 2020-2021

    Number of captives
Rank Domicile 2020 2021
1 Bermuda  680 670 (1)
2 Cayman Islands  652 661
3 Vermont  589 620
4 Utah  396 384
5 Delaware  288 313
6 North Carolina  250 257
7 Barbados 226 (2) 253
8 Hawaii  242 251
9 Luxembourg  199 192
10 Guernsey 188 (2) 192
11 South Carolina  175 183
12 Nevada  166 161
13 Tennessee  145 (2) 153
14 Arizona  131 149
15 Nevis 116 122
16 District of Columbia  106 112
17 Montana 115 (2) 102
18 Isle of Man  102 (2) 99
19 Singapore  80 84
20 Anguilla 94 (2) 77
  Total, top 20 4,940 5,035
  Total, all captives 5,879 5,985

(1) Business Insurance estimate
(2) Restated

Source: Business Insurance, March 2022.

Top 20 Global Captive Domiciles, 2019-2020

    Number of captives
Rank Domicile 2019 2020
1 Bermuda 715 680
2 Cayman Islands 618 652
3 Vermont 585 589
4 Utah 432 396
5 Delaware 366 288
6 Barbados 275 276
7 North Carolina 235 250
8 Hawaii 231 242
9 Tennessee 194 212
10 Luxembourg 196 199
11 Guernsey 197 191
12 South Carolina 179 175
13 Nevada 174 166
14 Arizona 128 131
15 Nevis 147 116
16 Montana 121 114
17 District of Columbia 104 106
18 Isle of Man 102 100
19 Anguilla 129 99
20 Singapore 73 80
  Total, top 20 5,201 5,062
  Total, all captives 6,160 6,027

Source: Business Insurance (www.businessinsurance.com), March 2021.

Leading Captive Domiciles, 2018-2019

    Number of captives
Rank Domicile 2018 2019
1 Bermuda 730 (1) 715
2 Cayman Islands 674 618
3 Vermont 580 585
4 Utah 441 (1) 435
5 Delaware 421 366
6 Barbados 276 294
7 North Carolina 246 (1) 235
8 Hawaii 231 231
9 Guernsey 209 (1) 199
10 Luxembourg 198 195
11 South Carolina 171 179
12 Nevada 182 (1) 174
13 Nevis 155 147
14 Tennessee 169 140
15 Anguilla 165 129
16 Arizona 124 128
17 Montana 128 (1) 123
18 District of Columbia 105 104
19 Isle of Man 103 102
20 Singapore 72 73
  Total, top 20 5,380 5,172
  Total, all captives 6,135 6,359

(1) Restated.

Source: Business Insurance (www.businessinsurance.com), March 2020.

Leading Captive Domiciles, 2017-2018

    Number of captives
Rank Domicile 2017 2018
1 Bermuda 739 711
2 Cayman Islands 669 674
3 Vermont 578 (1) 580
4 Utah 481 (1) 443
5 Delaware 391 421
6 Barbados 266 276
7 North Carolina 220 240 (2)
8 Hawaii 230 231
9 Guernsey 217 (1) 206
10 Luxembourg 204 (1) 198
11 South Carolina 172 171
12 Tennessee 155 169
13 Anguilla 188 (1) 165
14 Nevada 172 (1) 156
15 Nevis 151 155
16 Montana 141 (1) 129
17 Arizona 121 124
18 District of Columbia 102 105
19 Isle of Man 109 103
20 Dublin 83 78
  Total, top 20 5,342 7,035
  Total, all captives 6,337 (1) 6,454

(1) Restated.
(2) Business Insurance estimate.

Source: Business Insurance (www.businessinsurance.com), March 2019.

Leading Captive Domiciles, 2016-2017

    Number of captives
Rank Domicile 2016 2017
1 Bermuda 776 739
2 Cayman Islands 683 (1) 669
3 Vermont 593 566
4 Utah 462 480
5 Delaware 385 391
6 Guernsey 321 315
7 Barbados 246 266
8 Anguilla 287 (2) 258 (2)
9 Hawaii 208 (1) 230
10 North Carolina 189 (1) 220
11 Nevada 200 (1) 204
12 Luxembourg 208 203
13 South Carolina 164 172
14 Tennessee 149 (1) 155
15 Nevis 150 (1), (3) 151
16 Montana 163 (1) 140
17 Arizona 113 121
18 British Virgin Islands 137 111
19 Isle of Man 111 (1) 109
20 District of Columbia 100 102
  Total, top 20 5,645 5,602
  Total, all captives 6,700 (1) 6,647

(1) Restated.
(2) Business Insurance estimate.
(3) Restated to exclude individual cells/cell members from total captive count.

Source: Business Insurance (www.businessinsurance.com), March 2018.

Leading Captive Domiciles, 2015-2016

    Number of captives
Rank (1) Domicile 2015 2016
1 Bermuda  797 776
2 Cayman Islands  708 711
3 Vermont  596 593
4 Utah  440 (2) 462
5 Delaware  323 385
6 Guernsey  319 321
7 Anguilla  319 287 (3)
8 Nevis  268 285
9 Barbados  236 246
10 Luxembourg  217 208
11 Nevada  202 207
11 Hawaii  197 207
13 North Carolina  94 190
14 Montana  196 184
15 South Carolina  167 164
16 Tennessee  127 160
17 British Virgin Islands  142 137
18 Puerto Rico  186 (2) 128 (3)
19 Arizona  110 113
20 Isle of Man  115 110
  Total, top 20 4,962 5,098
  Total, all captives 6,851 (2) 7,006

(1) Domiciles with the same number of captives receive the same rank.
(2) Restated.
(3) Estimated.

Source: Business Insurance (www.businessinsurance.com), March 2017.

Leading Captive Domiciles, 2014-2015

    Number of captives
Rank (1) Domicile 2014 2015
1 Bermuda 800 797
2 Cayman Islands 759 708
3 Vermont 587 596
4 Utah 422 450
5 Delaware  333 323
6 Anguilla  379 319
6 Guernsey  321 319
8 Nevis  281 268
9 Barbados  231 (2) 236
10 Luxembourg  224 217
11 Nevada 160 202
12 Hawaii 194 197
13 Montana 177 196
14 District of Columbia 191 193
15 Puerto Rico 152 (2) 182 (3)
16 South Carolina 158 167
17 British Virgin Islands 146 142
18 Tennessee 70 (2) 127
19 Isle of Man 122 115
20 Arizona 114 110
  Total, top 20 5,821 5,864
  Total, all captives 6,839 6,939

(1) Domiciles with the same number of captives receive the same rank.
(2) Restated.
(3) Estimate.

Source: Business Insurance (www.businessinsurance.com), February 29, 2016.

LEADING CAPTIVE DOMICILES, 2013-2014

    Number of captives
Rank Domicile 2013 2014
1 Bermuda 831 800
2 Cayman Islands 759 759
3 Vermont 588 587
4 Utah 342 (1) 422
5 Anguilla 295 379
6 Delaware 298 333
7 Guernsey 318 (1) 321
8 Nevis 276 281
9 Barbados 264 271
10 Luxembourg 226 (1) 224
11 Hawaii 184 194
12 D.C. 170 (1) 191
13 Montana 150 177
14 Nevada 148 160
15 South Carolina 145 158
16 Puerto Rico 107 (1) 152
17 British Virgin Islands 147 146
18 Isle of Man 123 (1) 122
18 Kentucky 128 122
20 Arizona 106 114
  Total, top 20 5,605 5,913
  Total, all captives 6,412 6,876

(1) Restated.

Source: Business Insurance (www.businessinsurance.com), March 16, 2015.

LEADING CAPTIVE DOMICILES, 2012-2013

    Number of captives
Rank Domicile 2012 2013
1 Bermuda 856 831
2 Cayman Islands 740 (1) 759
3 Vermont 586 588
4 Guernsey 333 344
5 Utah 287 342
6 Delaware 212 (1) 298
7 Anguilla 291 295
8 Nevis 203 276
9 Barbados 261 264
10 Luxembourg 238 225
11 Hawaii 178 (1) 184
12 D.C. 167 (1) 172
13 Montana 114 150
14 Nevada 133 148
15 British Virgin Islands 157 147
16 South Carolina 149 145
17 Dublin/Ireland 141 (2) 142 (2)
18 Kentucky 139 128
19 Isle of Man 125 125
20 Arizona 101 106
  Total, top 20 5,411 5,669
  Total, all captives 6,125 6,342

(1) Restated.
(2) Combined Dublin and Ireland.

Source: Business Insurance (www.businessinsurance.com), March 17, 2014.