20 January 2023Analysis

Utah reports 2022 captive figures

Utah has reported that a total of twelve captives were registered in the state in December 2022.

According to figures sent by the Captive Division of the Utah Insurance Department to Captive International, the twelve comprised of seven pure captives and five protected cell captives.

The new entities to Utah take the total number of 419 risk bearing entities, up from the 386 that were registered in the state by the end of 2021.

Over the course of 2022 57 risk-bearing entities were approved in Utah, although 24 withdrew by cancelling or surrendering.

At the end of 2022 Utah had 343 pure captives, 2 group captives, 11 cell structures, 9 risk retention groups and 54 individual cells.