Arizona grows captive population by 7% in 2017

The number of captive insurance companies domiciled in the State of Arizona increased by 7 percent in 2017, bringing the total to 121.

As of December 31, 2017, Arizona issued 11 new licenses and terminated three. This is an increase from 2016, where seven licenses were issued and four terminated, and the overall captive population grew by 3 percent.

Of the 121 captives, Arizona now has 80 pure captives, 22 pure reinsurance captives, 10 risk retention groups, five industry group captives, two association captives, one agency captive and one protected cell.

Broken down by industry classification, 27 captives are in the health care and social assistance industry, 17 in construction, 27 in finance and insurance, eight in transportation and warehousing, 10 in manufacturing, four in retail trade, and 28 filed under 'other'.