INSURANCE COMMISSIONER ANNOUNCES 37% GROWTH FOR THE CONNECTICUT CAPTIVE PROGRAM IN 2023
Commissioner Andrew Mais of the Connecticut Insurance Department (CID) has announced a significant milestone for the state's captive insurance sector in 2023. The sector experienced a remarkable 37% growth, marked by the addition of 10 new captive insurers, indicating a 22% increase, and an impressive 108% surge with 13 new cell risk-bearing entities. This achievement, resulting in a total of 78 net gain of captive entities, marks the fourth consecutive year of sustained net growth since 2020. Connecticut's approvals include the establishment of new insurers and the relocation of existing captive insurers to the state. The state has seen a notable increase in new businesses choosing Connecticut for their captive programs this year. These captive entities predominantly issue policies to…









