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Captive insurance companies, which are owned by the entities that they insure, are usually formed by businesses that wish to better manage the cost and administration of their insurance coverage.
In 2005, the Delaware General Assembly passed House Bill 218, modernizing Delaware law regarding the formation of these companies and positioning Delaware to become a home to the growing number of captive insurance companies being created by companies worldwide.
Delaware’s sophisticated corporate laws, judiciary and financial infrastructure make it the preeminent jurisdiction for business. These benefits are extended to the companies through the Delaware Captive Insurance Program.
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