Topics Related to Captive Insurance

North Carolina Insurance Commissioner Mike Causey announced that 2020 proved to be another highly successful year for the Department of Insurance’s captive insurance program.  The number of risk- bearing captive entities licensed or approved (including conditional licenses and approvals) since inception through year-end 2020 exceeded the 1000 milestone rising to 1,081.

North Carolina Insurance Commissioner Mike Causey today congratulated the NCDOI’s Captive Insurance Division and the state’s captive industry on receiving the prestigious “Domicile of the Year” award.

According to NC Insurance Commissioner Mike Causey, the numbers show North Carolina’s captive insurance program is continuing to grow and prosper in North Carolina’s favorable business environment.

“Our captive insurance program has made even greater strides in the last year,” said Commissioner Causey. “Businesses from all over are finding that our state’s thorough but fair regulation is a plus when it comes time to choose a jurisdiction in which to domicile a captive insurance company. The future for the captive insurance industry in our state couldn’t look brighter.”

NC Insurance Commissioner Mike Causey congratulated Rep. Linda Johnson recently at a Raleigh meeting of insurance executives for her diligence in helping establish North Carolina's captive insurance company program.

"Thanks to Rep. Linda Johnson and her hard work to help establish North Carolina's captive insurance program, we have continued growth in that industry and look forward to its further development," said Commissioner Causey. "North Carolina continues to prove to be a great place for captive insurers and much of the credit goes to Rep. Johnson."

Insurance Commissioner Mike Causey is pleased to report that North Carolina's captive insurance company program once again exceeded expectations during the program's third full year of operation.

"North Carolina's captive insurance program continues to experience growth in the number of captive insurers forming and redomesticating to our state," said Causey. "North Carolina continues to prove to be a great place for captive insurers and I look forward to what is in store for 2017."

Insurance Commissioner Mike Causey today welcomed Arch Capital Services new division headquarters to North Carolina. Commissioner Causey advocates for more companies to come to the state to bring more competition, more product choices and better rates. This helps both the consumer and companies in N.C.

North Carolina Insurance Commissioner Mike Causey today announced that North Carolina’s flourishing captive insurance program had an estimated $30 million impact on the state last year.

“North Carolina’s captive insurance law, while providing for appropriate regulation, allows companies to form and operate their own insurance companies without getting tangled up in unnecessary red tape,” Commissioner Causey said. “Other businesses and organizations may want to check out our business-friendly environment and form or relocate their own captive insurance company in North Carolina.”

North Carolina Insurance Commissioner Mike Causey is pleased to report that North Carolina's captive insurance company program, now in its 5th year of operation, has established itself as a leading domicile for captive insurance companies.

“I applaud and welcome the solid growth of the state’s captive insurance company program,” said Commissioner Causey. “In just five years, as captive insurance companies have made North Carolina their home, the program’s growth has positively impacted the state’s economy by creating jobs and generating premium taxes and business revenues.”

The North Carolina Department of Insurance has released its 2019 end-of-year report for its Captive Insurance Program and the numbers show the state continues to be an attractive home for new captive insurance companies.

North Carolina Insurance Commissioner Mike Causey is pleased to report that North Carolina continues to experience growth in its captive insurance industry, and with the program now into its sixth year, the state has emerged as one of the nation's leading captive insurance domiciles.