Connecticut Named Captive Domicile of the Year: Celebrating Excelling in Insurance Regulation

The Connecticut Insurance Department (CID) has announced that the state has been honored as the Captive Domicile of the Year for jurisdictions with less than $5 billion in gross written premium at the 2026 Captive Review Awards USA. This accolade celebrates Connecticut's excellence in regulatory practices, innovation, and leadership within the captive insurance sector.

Connecticut Insurance Commissioner Josh Hershman emphasized the award as evidence of the state's effective captive insurance framework and supportive infrastructure. Hershman cited the collaborative efforts among captive owners, service providers, and industry stakeholders as vital to the industry’s growth and innovation. Fenhua Liu, Director of CID’s Captive Insurance Division, noted this recognition underscores the community's trust and confidence, highlighting the division's commitment to responsive regulation and clear guidance for captives navigating regulatory processes.

Over the past year, CID has introduced several enhancements to strengthen Connecticut's captive insurance industry. These include improvements in regulatory and operational measures, expanded resources, and increased industry engagement. A significant development is the updated Captive Division website, featuring an interactive eligibility screening tool and enhanced user navigation to streamline application processes and clarify regulatory requirements.

Connecticut’s captive insurance sector continues to evolve, marked by a 7% increase in new captive formations in 2025, bringing the total number of captive entities to 112. Protected cell structures also saw a robust expansion of 16% last year and 683% over the past five years, solidifying Connecticut’s position as a leading innovator in the captive insurance domain. For more information on Connecticut's captive insurance program, visit the Department's Captive Insurance Division webpage.