DCCA Insurance Division attends 2024 Japan Captive Seminars

The Department of Commerce and Consumer Affairs (DCCA) Insurance Division attended the 2024 Japan Captive Seminars hosted by the Hawai‘i Captive Insurance Council on Nov. 19 and 20 in Tokyo, Japan. Nearly 400 participants attended the two-day event, including representatives from various Japanese companies and industry service providers. The event featured educational sessions on captive insurance basics and risk management topics, led by professionals from both the U.S. and Japan who have successfully established captives in Hawai‘i.

During the seminars, the DCCA Insurance Division made presentations on Hawai‘i’s captive insurance industry and met individually with both current and prospective captive insurance companies.

Hawai‘i remains a top choice for captive insurance domiciles, with 44 licensed captive insurance companies owned by Japanese firms. In 2023, Japanese-owned captive insurance companies domiciled in Hawai‘i wrote over $1.1 billion in premiums, generated more than $1.5 million in direct economic benefits to Hawai‘i through professional services and expenses, and contributed over $209.4 million in capital invested in or managed by Hawai‘i-based financial institutions.

Hawai‘i and Japan have a deep bond, built on shared cultural elements and close geographical proximity. Hawai‘i offers easy access to Japan and features a mix of cultures that enhances cooperation between the two regions. This long-term relationship has led to valuable exchanges in traditions, values and business practices. As a result, Hawai‘i is a strategic partner for Japanese companies seeking innovative solutions in captive insurance, providing opportunities for collaboration and growth.