Even with a steadily softening proper-casualty insurance market for most lines and regions, onshore captive growth continues to flourish, with the emphasis remaining on pure captives for a multitude of coverage.
Domestic alternative risk-transfer market business is still showing steady expansion, with the rise faster than in offshore locales. Meanwhile, the race is fierce among competing U.S. domiciles, with changes in regulations and more aggressive marketing slowing formations in some states while prompting a stampede to others, captive experts say.
“There has been more growth of U.S. captives than offshore captives,” said Richard Turner, managing director of sales for Liberty Mutual's Captive Services in Conshohocken, Pa. “One reason is the perception that onshore is safe. There are a lot of flexible venues now and more [domicile] promotion added to the flavor.”
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