24 January 2013Regional titles

Montana captive numbers grew 25 percent in 2012

The Montana Captive Insurance Association has indicated that Montana licensed 34 new captives in 2012, a 25 percent increase on 2011 numbers. 2012 additions bring the number of Montana captives to 114.Captive numbers comprise 79 pure captives, 16 risk retention groups, 10 captive reinsurance companies, six protected cell companies, two associated reciprocal insurers and one special purpose captive.  Addressing last year’s success, Montana Captive Insurance Association president, Dick Goff said: "we are obviously very pleased with these impressive growth numbers and this certainly reinforces Montana's position as the leading captive domicile in the Western United States. The association is very appreciative that we have a great captive regulatory team in place, which has helped to ensure such steady and responsible growth."