In 2016, the U.S. state of Tennessee added 37 new captive insurers, including 30 pure captives and 5 protected cell companies (PCCs), 1 risk retention group (RRG) and 1 association captive. 67 new cell captives were also added.

        In 2016, 12 captive insurers and 15 cell captives exited the Tennessee market, of which 3 cell captives converted into pure captives.

        Officials of the Tennessee Captive Insurance Association said that with more than 100 new risk retention vehicles added in 2016, reaching 500 new risk retention vehicles within five years is absolutely a great achievement.

       In 2016, Tennessee admitted 9 captive insurers redomiciled from other jurisdictions, including 2 from Bermuda, 2 from Vermont, 2 from South Dakota, and one each from Nevada, Southern California and the Cayman Islands.

        Among them, Agricultural Risk Insurance Company, originally established in the Cayman Islands by the Tennessee Farmers Cooperative in 1987, redomiciled to Tennessee on June 30, 2016.

       By the end of 2016, the total number of captive insurers in Tennessee reached 159, including 120 pure captives, 29 protected cell companies, 8 risk retention groups and 2 association captives, as well as 379 separate cell captives.