Hawaii licensed 21 new captives in 2020, including nine in the fourth quarter, according to Hawaii’s Department of Commerce and Consumer Affairs.
In total, Hawaii had 242 captive insurance companies at the end of 2020.
It reported that 156 of the captive owners of its captives are based in the Western US region, with 25 being in the Eastern region and 22 of them central. The remaining 39 captive owners are based in the Asia Pacific region.
The single biggest industry group represented by Hawaii captives was construction and real estate, with 70 captives, followed by telecommunications and manufacturing with 50 and financial services with 34.