Despite the ongoing soft commercial insurance market and slow climb out from the recession, domiciles report their captive formations are back up to 2007 levels, while some point out their formations remained steady throughout the downturn.
Vermont, which had dipped dramatically in 2008, is making a strong comeback, as is Montana. Kentucky, Utah and Washington, D.C. report similar numbers for both years.
Vermont–the largest U.S. captive domicile and the third-largest in the world–estimated more than $16 billion in gross written premium for 2009. It hosts captives for 42 of the firms making up the Fortune 100 and 18 of the companies in the Dow 30.
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