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23rd of February 2012

Hawaii reaches record high

Vicky Beckett 27/01/2012

Hawaii gained five new captives in 2011, after licensing ten and losing five.
 
This gives the domicile a net total of 172 captives, Hawaii is also working on five new applications for 2012.
 
George Sumner III, Hawaii captive insurance administrator, said: “We are pleased with how many companies look to Hawaii as a leader in captive insurance industry.
 
"The market appears to be as good or better for Hawai'i's prospects in 2012."
 
"Hawaii remains a top choice for captives. We are optimistic that Hawaii will continue to build momentum into 2012," Gordon Ito, Hawaiian insurance commissioner, said.
 
"We are committed to meet the growing demands to keep Hawaii a premier captive domicile," Sumner said.
 
Hawaii established captive legislation in 1986 and this year is the 25th anniversary of the first captive establishing in Hawaii.

Tags: Captive, Domicile, Geogre Sumner, Gordon Ito, Hawaii, Hawaii Insurance Commissioner, Insurance

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