FOR IMMEDIATE RELEASE
June 18, 2026

(HARTFORD, CT) – The Connecticut Insurance Department (CID) announced today that Connecticut has been named Captive Domicile of the Year (Less than $5 Billion Gross Written Premium) at the 2026 Captive Review Awards USA, a prestigious industry recognition honoring regulatory excellence, innovation, and leadership in the captive insurance industry.

“This award reflects the strength of Connecticut’s captive insurance program and the dedication of the team that supports it every day,” said Connecticut Insurance Commissioner Josh Hershman. “We have worked to build a regulatory environment that is efficient, responsive, and focused on helping captive owners succeed. This is a testament to the strong partnerships across Connecticut’s captive insurance community, including captive owners, service providers, and industry partners, that continue to drive growth and innovation in our state.”

“This recognition is especially meaningful because it reflects the trust and confidence of Connecticut’s captive insurance community,” said Fenhua Liu, Director of CID’s Captive Insurance Division. “Our team is committed to providing responsive service, thoughtful regulation, and practical guidance that help captives navigate the regulatory process and succeed in Connecticut. We are grateful to be recognized by Captive Review and honored to support this thriving industry.”

Over the past year, CID has continued to strengthen Connecticut’s captive insurance program through regulatory and operational improvements, enhanced industry engagement, and expanded resources for stakeholders. Most recently, the Department launched an updated Captive Division website featuring an interactive eligibility screening tool, improved navigation, streamlined application guidance, and clearer regulatory requirements. The update also includes new service level objectives designed to increase transparency and accessibility for users.

Connecticut's captive insurance sector continued to experience strong growth, with new captive formations increasing 7% in 2025 and the total number of captive risk-bearing entities reaching 112. Protected cell structures grew 16% in 2025 and have surged 683% over the past five years, further solidifying Connecticut's position as a leading domicile for captive insurance innovation.

For more information about Connecticut's captive insurance program, visit the Department's Captive Insurance Division webpage.

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Contact: Mary Quinn
Communications Director
Mary.Quinn@ct.gov
Cell: (959) 529-4904