1 March 2018Analysis

Nevada welcomes 22 captives

The State of Nevada issued 22 captive insurance licenses in 2017.

However, 19 captive entities were inactivated in 2017 due to dissolution, conversion or relocation - bringing its total number authorised active captives as of December 31, 2017, to 203.

The 22 new captive licenses included 18 pure captives, two risk retention groups, one agency captive and one association captive.

Of the total 203 active captives, there are 168 pure captives, 15 risk retention groups, 10 association captives, six sponsored captives, three agency captives and one branch captive.

“Currently, Nevada is seeing a healthy domestic business environment,” the Nevada Division of Insurance said in a statement. “Captives have and continue to present a viable risk management option. For 2018, the Nevada Division of Insurance expects steady interest by applicants in the Nevada Captive Program, as captives continue to fill an important part of an evolving marketplace.”