Arkansas Reports Captive Growth
According to Arkansas Insurance Commissioner Allen Kerr, the state is “expecting continued growth” this year after licensing two new captive insurance companies in 2018. As with the two previous years, no captives surrendered their licenses in 2018, meaning the total number of captives licensed in Arkansas is now six.
The Arkansas Insurance Department (AID) “has made significant legislative changes and resource commitments to welcome new captive applicants. As a result, there has been an upward trend in industry interest in Arkansas' captive program, and we stand ready to provide competent support and assistance to anyone seeking to form a captive insurer,” said Kerr. “AID is also proposing new 2019 legislation to further enhance the state’s existing captive laws to expand options and framework for industry participants seeking to do business in Arkansas.”