Tennessee enjoys strong growth in 2024

Tennessee added 52 new risk-bearing entities in 2024, bringing the total to 767, a 14% rise on the previous year. 

Mark Wiedeman (pictured), director of the Tennessee Department of Commerce and Insurance (TDCI) Captive Insurance Section, said the number of single parent captives rose by 6% while Tennessee also enjoyed an 8% increase in protected cells. 

Wiedeman said the growth was due to the efforts of the regulatory team and to the robust network of service providers and the Tennessee Captive Insurance Association (TCIA).

The captive insurance section is now fully staffed, with a team of 17 dedicated regulators, the agency said. 

Tennessee now hosts 176 captives and 591 cells, which makes Tennessee the 8th largest captive insurance domicile in the US and 13th globally.

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