Latest global statistics from the Captive Review World Domicile Update shows continued growth in the captive insurance industry

There were 6,013 captives reported across 76 global domiciles in the latest Captive Review World Domicile Update, writing premium estimated to be at over $201 billion.

The figures relate to year-end 2023. During 2023 the number of captives is calculated to have grown by 43, while estimated premium grew by over $8.5 billion.

Despite the commercial market beginning to moderate in various insurance classes in 2023, there were still at least 426 new captive formations in the year, down only eight on the total recorded in last year’s World Domicile Update for full year 2022.

The number of cell captives recorded did see a small net decline of seven from 3,068 to 3,061, and the number of new formations dropped more significantly from 452 to 385.

However, since the major offshore domiciles of Bermuda and Cayman do not report their cell captive numbers, it is difficult to get a firm grasp on this statistic.

For detailed analysis and a full breakdown of captive statistics by domicile and by region, read of latest World Domicile Update out today, available either physically at the VCIA conference at the Hilton Doubletree, Burlington, Vermont, or digitally here.