As of September, Delaware established itself as the sixth large captive insurance domicile in the world. A majority of its growth has come from captives making the 831(b) tax election. The Delaware Department of Insurance expects European and other foreign markets to become a focus for 2015. Delaware’s DOI is hoping to attract multinational companies that would like to insure risk exposures in the United States through an onshore captive insurance structure.
What’s next? Steve Kinion from Delaware DOI will attend the European Captive Forum in Luxembourg this November to get a better understanding of European risk managers. Click here to read the full article.