Number of Nevada captives drops in 2023

Nevada formed 26 new captive insurance companies in 2023, but the total number of captive insurers fell from 299 to 254 in the course of the year, according to the Nevada Department of Insurance. 

Nineteen of the new captive insurance companies were protected cell captives, five were pure captives, one was an association captive and one was a sponsored captive, according to the Nevada Department of Insurance.

Nevada had 100 non-cell captives in 2023 compared to 155 in 2022.