Mapping the captive evolution

A captive is an insurance company that is set up and owned by a non-insurance company to act as a direct insurer or reinsurer for the parent company and its subsidiaries. Risk share arrangements similar to the captive concept have existed for over 100 years, but true captives date from the late 1950s, developed by property engineer, Frederic Reiss, with the first captive insurance company established in Bermuda shortly afterwards.  
There are around 6,000 captives around the world
That’s up from just 1,000 in 1980
We’ve seen a 20% growth in captives over the last decade
More than 70 jurisdictions now have some form of captive legislation
of captives are in the United States
Three jurisdictions – Bermuda, Cayman Islands and Vermont – are home to around a third of all captives globally.

*Captive numbers compiled by Business Insurance, Captive Insurance Special Report. March 2022 edition. Ranked by the number of captive licenses at year-end 2021. Numbers do not include microcaptives, series captives, or individual cells or cell members in protected cell companies.

Additional source: Statista

United States
Offshore North America
Europe
Asia Pacific
Africa
Based on captive licenses as of year-end 2021