The state of Tennessee saw domestic captive insurance companies exceed $1 billion in written premiums in 2017 for the first time – a milestone for Tennessee’s burgeoning captive insurance marketplace.
In addition to setting a new benchmark in premiums, the Tennessee Department of Commerce and Insurance (TDCI) approved 52 new risk-bearing entities (RBEs) in 2017, including licensing another captive insurance company that relocated to Tennessee from outside the U.S.
A captive insurance company represents an option for many corporations and groups wanting to take financial control and manage risks by underwriting their own insurance. TDCI’s Insurance Division is responsible for properly regulating Tennessee’s captive insurance industry.
