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Vermont Says 32 Captives Added in 2012, Fueled by Construction

Vermont licensed 32 so-called captive insurers last year as construction and manufacturing firms turned to the state as they established self-insurance programs.

New licensees, including Deutsche Bank AG (DBK), ConocoPhillips (COP), Allstate Corp. (ALL) and Tyco International Ltd. (TYC), bring Vermont’s total to 984, according to a news release today from the state. Vermont licensed 41 captives in 2011.

To contact the reporter on this story: Elizabeth Bunn in New York at Ebunn1bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net

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