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NC Captive Insurers are Growing

NC Insurance Commissioner Mike Causey announced Monday, Jan. 30, that NCDOI enjoyed a banner year creating new captive insurers in the state. According to Causey, North Carolina licensed 62 pure captives with more than 100 cells and series approved in 2022.

Causey declared that the state’s Captive Insurance Program “remains among the world’s strongest domiciles” as it approaches its second decade of operation. “We are excited by the continued success of our captive program whose growth is fueled by helping meet the risk management needs of captive owners and members, with business-friendly regulation and a focus on professional, responsive customer service. North Carolina is one of the top places for captive insurers to set up shop.”

“North Carolina is the 4th largest domicile for captive insurance companies in the United States” according to Diana Hardy NCCIA Chair. The association is appreciative of Commissioner Causey and his staff headed by Deputy Commissioner Lori Gorman. “We believe the strong culture of customer service is what continues to see businesses coming to North Carolina to establish their captive companies.”

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