Hawai'i celebrates 40 years of captives
Hawaiʻi has marked 40 years of leadership in the captive insurance industry, celebrating a legacy of innovation, stability and partnership.
Since establishing its captive insurance statutes in 1986, Hawaiʻi has built a strong and respected foundation in the industry, the Hawai’i Department of Commerce and Consumer Affairs (DCCA) said in a statement. Today, the state is home to 274 active captive insurance companies and wrote over $18 billion in premiums last year. The captive insurance industry annually invests $2.7 billion through Hawaiʻi’s financial institutions and generates more than $46.3 million in direct local expenditures.
To commemorate the 40th anniversary of captive insurance in Hawaiʻi, a reception at the Bishop Museum on Oʻahu, brought together captive owners, legislators, representatives from the Hawaiʻi Captive Insurance Council and business leaders from local, national and international companies and organizations. The event highlighted the strong partnerships that have contributed to Hawaiʻi’s longevity.
“As we celebrate this milestone, we also look to the future,” said Governor Josh Green. “Hawaiʻi is dedicated to supporting the captive insurance industry for many years to come.”
“Hawaiʻi’s success in the captive insurance sector is rooted in a commitment to collaboration, sound regulation and sustained growth,” added Captive Insurance Administrator and Deputy Commissioner Andrew Kurata. “Over the past four decades, we have worked closely with industry partners to create a business-friendly environment that supports both innovation and accountability.”
Forty years of experience has enabled Hawaiʻi to cultivate a diverse and well-established infrastructure that allows captive insurance companies to thrive, the DCCA said. The state’s approach balances responsiveness to industry needs with a strong regulatory framework designed to ensure financial security and solvency. As a recent example, legislation was just passed to pilot an innovative new risk-based supervisory model. Hawaiʻi is also one of the few jurisdictions with a full-time, 16-member team dedicated to serving the captive industry.
For more information about Hawaiʻi’s captive insurance program, please visit cca.hawaii.gov/ins/captive-insurance/
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