Take Control, Reduce the Cost of Risk with Our Creative Captive Solutions
While the captive insurance market today is less than 60 years old, the growth of captives is worldwide and is now pegged at over 6,500 captives, and by some estimates generating close to $100 billion in premium annually. Adopted by Fortune 500 companies in the late 1950s as a risk management solution to help reduce the cost of risk, captive insurance strategies have since become increasingly diverse, creative and, in many cases, an indispensable tool for many businesses and organizations, including non-profits, in the U.S. middle-market sector.
While it is estimated that up to 90% of all Fortune 500 companies use a captive in their operations, it is the middle-market sector that is driving growth in the U.S. With estimated revenues between $10 million and $1 billion, there are over 200,000 firms in this sector, representing 44.5 million jobs and revenues of more than $10 trillion dollars. For many in this sector, the adage “there’s no place like home”, is certainly becoming a motivating factor as now more than 37 states have passed captive insurance statutes allowing the forming and regulatory oversight of captive insurance companies.