The insurance market may be softening in most lines, but you'd hardly know that by the steady stream of captives being formed in domiciles around the United States.
In Vermont–the largest U.S. captive domicile and one of the largest in the world–for example, captive growth this year is expected to surpass last year's, despite falling commercial prices in all but catastrophe lines.
Derick A. White, director of captive insurance with the Vermont Department of Banking, Insurance and Securities, said that despite the softening market, the domicile has had an excellent year.
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