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DFR presents Vermont’s captive insurance program: nearly 700 captives, $33 billion in premiums reported for state-domiciled business
Summary
Acting Commissioner Sandy Bighlestone told lawmakers Vermont licenses almost 700 captive insurers, reported $33 billion in premiums written in Vermont-domiciled captives, and ranked No. 1 worldwide in 2023.
Acting Commissioner Sandy Bighlestone told the House Commerce & Economic Development Committee that Vermont’s captive insurance program licenses nearly 700 captives and that Vermont–domiciled captives reported roughly $33 billion in premiums written last year.
"A captive is essentially a private insurance company with a limited purpose, which is to insure its owner or owners," Bighlestone said, describing captives as tailored risk‑management tools that can be specialized to a firm’s needs.
Bighlestone reviewed the industry’s growth and its role in Vermont’s economy: the captive…
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