Vermont Captive Insurance Industry Celebrates Dual Award Win

FOR IMMEDIATE RELEASE
June 16, 2026

Contact :

Brittany Nevins | Captive Insurance Economic Development Director
Vermont Department of Economic Development
(802) 398-5192; [email protected]

Vermont Captive Insurance Industry Celebrates Dual Award Win

Judges recognize Vermont's growth, innovation, and regulatory expertise

MONTPELIER, Vt. - Vermont has been named Cell Captive Domicile of the Year and Captive Domicile of the Year at the 2026 U.S. Captive Review Awards in Chicago, Illinois.

This is Vermont first Cell Captive Domicile of the Year Award, while the Captive Domicile of the Year Award marks the state's third consecutive year receiving the honor, and the twelfth time overall, within the category of domiciles that wrote more than $5 billion in gross premiums.

In selecting Vermont, judges praised the state's sustained growth, regulatory leadership, and world-class reputation as a captive insurance domicile. They highlighted Vermont's long-term success, ongoing regulatory modernization, highly respected regulatory team, and strong support from industry stakeholders. For the Cell Captive Domicile award, judges cited Vermont's growth, regulatory expertise, business-friendly innovation, responsive licensing process, and continued refinement of its captive insurance laws.

"This recognition reflects the dedication and expertise of Vermont's captive insurance community," said Christine Brown, Deputy Commissioner of Captive Insurance, Vermont Department of Financial Regulation. "I am incredibly grateful to my dedicated team at the Vermont Captive Insurance Division, our industry partners, and captive owners who work every day to uphold the highest standards of responsible regulation, innovation, and collaboration."

Ian Davis, President of the Vermont Captive Insurance Association (VCIA), said, "Winning Captive Domicile of the Year for a third consecutive year and earning Cell Captive Domicile of the Year for the first time demonstrates the strength of Vermont's captive insurance ecosystem and the value of the partnership between regulators, industry professionals, and captive owners."

Lyle Jepson, Commissioner, Department of Economic Development added, " For more than 40 years, Vermont has earned a reputation as a trusted home for captive insurers. These awards recognize the strength of our captive insurance industry and its important contribution to Vermont's economy, financial services sector, and global standing."

Vermont has been a leading captive insurance domicile for more than four decades and continues to set the standard for responsive regulation, innovation, and industry collaboration.

For more information on Vermont's captive insurance industry, visit www.vermontcaptive.com.

About Vermont Captive Insurance
Captive insurance is a regulated form of self-insurance that has existed since the 1960's and has been a part of the Vermont insurance industry since 1981, when Vermont passed the Special Insurer Act. Captive insurance companies are formed by companies or groups of companies as a form of alternative insurance to better manage their own risk. Captives are commonly used for corporate lines of insurance such as property, general liability, products liability, or professional liability.