Why Vermont?

Since 1981, when Vermont was one of the first states to adopt captive enabling legislation, the state has been at the forefront of the captive insurance industry. With one of the largest networks of experienced and knowledgeable regulators, management professionals, in-house examiners and service providers of any domicile, Vermont provides all of the resources necessary for your captive to thrive. And, with unparalleled legislative support, you can be sure your captive is strong, secure, and supported at every turn.

 

Meet the people who uphold our standard.

As leaders of the captive industry, the Vermont Captive team is consistently recognized by international trade publications and industry peers as the most experienced and knowledgeable captive insurance regulators in the world. Backed by a unique infrastructure made up of in-house examiners and support personnel, our team works closely together and in partnership with Vermont’s Governor and state legislature to make sure that Vermont’s regulations keep pace with the fast-changing needs of the industry.

 

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Kevin Gaffney (far right), Vermont Commissioner of the Department of Financial Regulation, celebrates being the number one domicile with the entire Vermont regulatory team.

 

 

Licensing Team

For questions on forming and operating a captive, contact a member of our licensing team:

Sandy Bigglestone

Sandy Bigglestone

Deputy Commissioner
Captive Insurance Division

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Christine Brown

Christine Brown

Director of Captive Insurance
Captive Insurance Division

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Jim DeVoe-Talluto

Jim DeVoe-Talluto

Assistant Director of Captive Insurance
Captive Insurance Division

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Business Development

For questions on business development, contact:

Brittany Nevins

Brittany Nevins

Captive Insurance Economic Development Director

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Examination Team

For questions on the examination process, contact:

Dan L. Petterson

Dan L. Petterson

Director of Captive Examinations

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Service providers

Part of what makes Vermont the leading onshore domicile is the extensive network of captive management firms and service providers located within the state. Whether you are looking for a large broker, a smaller independent organization, a CPA or an attorney who specializes in captives, Vermont has the best in the industry. No matter who you choose to work with, you will receive the same “Gold Standard” of excellence that Vermont Captive has to offer. Explore the comprehensive list of captive service providers below.

EXPLORE SERVICE PROVIDERS

Additional resources

Vermont is home to the world’s largest captive insurance trade association, the Vermont Captive Insurance Association (VCIA). Established in 1985, the Association has grown to provide lobbying support on both the state and federal levels for its nearly 500 member companies. In addition, it hosts and supports professional education opportunities for the industry at large. In 2001, the VCIA conceived The International Center for Captive Insurance Education (ICCIE) to provide in-depth educational offerings, information on current topics, and a professional designation for the captive industry.

Visit VCIA Visit ICCIE

Vermont Captive facts & figures

Data as of 06/30/2024 unless otherwise noted

1,350 captives licensed
29 new captives in 2024
678 captives currently licensed—652 active & 26 dormant
Over 500 cells + separate accounts

Breakdown of captives by structure

# of captives by structure as of 06/30/2024

  • Pure 440 64.9%
  • RRG 85 12.5%
  • Sponsored 69 10.2%
  • Special Purpose Financial Insurer 40 5.9%
  • Industrial Insured 19 2.8%
  • Association 15 2.2%
  • Branch 4 0.6%
  • Affiliated Reinsurance Company 2 0.3%
  • Agency 4 0.6%
$231 billion assets under management as of 12/31/23
$31 billion gross written premium as of 12/31/23

Number of captives by gross written premium

# of captives by GWP as of 12/31/2023

Number of captives by industry

# of captives by industry as of 12/31/2023

A four-season
destination

Whether you bike the Lake Champlain causeway, hike one of the state’s many mountains, hit the slopes, or spend an afternoon exploring Burlington’s Church Street Marketplace, Vermont won’t disappoint. All of this is available within minutes of Burlington International Airport.

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