The Hawaii Captive Insurance Council (HCIC) announced this week that the domicile’s captives closed out 2011 with just over $14 billion in assets.
According to Fay Okamoto, chair and director of the HCIC: “what’s great about this business segment is that we’ve built an internationally competitive industry here in Hawaii that has grown organically, leverages local professional expertise and infrastructure and attracts long-term business to the state.”
Chris Mertes, HCIC president, added: “Hawaii is now facing meaningful competition from multiple domestic domiciles, and as a result, now more than ever, regulatory and legislative innovation and drive from the State are key elements that will assist the captive industry in maintaining its competitive position and grow.”
Hawaii, HCIC
