CT | Connecticut is one of the newer and smaller captive domiciles in the United States, with significant growth lying ahead, state captive experts predict.
Just over a decade ago, Connecticut lawmakers passed legislation authorizing captive formation in the state.
While the number of Connecticut captives—compared to many other domiciles—is small, one-third of the captives are owned by Fortune 500 companies.
Connecticut, which licensed its first captive in 2012, has seen strong growth in its captive count in recent years. At the end of 2021, Connecticut had 35 captives, up from 22 in 2020 and just 16 in 2019.
That high growth, says Connecticut Insurance Commissioner Andrew Mais, is due to several factors.