Skip to main content

DIFS Announces 25% Growth for Michigan’s Captive Insurer Program

Media Contact:
Consumer Hotline: 877-999-6442,


(LANSING, MICH) The Michigan Department of Insurance and Financial Services (DIFS) Director Anita Fox has announced that Michigan captive insurer premiums exceeded $3 billion in 2023, an increase of 25% over the previous year. The total number of captive insurers grew to 26 in 2023, indicating growing demand for alternative insurance coverage options in Michigan for businesses and other organizations.

“Michigan’s captive insurance program, administered by DIFS, provides an important way for businesses to obtain insurance coverage for certain types of risks,” said DIFS Director Anita Fox. “With a nearly 25% increase in total captive insurer premiums, Michigan has continued the trend of attracting new captive formations to the state.”

Captive insurers are licensed insurance companies that are typically set up by a business or other organizations to insure company risks when other types of insurance coverage, including commercial coverage, are either unavailable or too expensive. This could include coverage for risks like business interruption, general liability, cannabis-related risks, or cyber attacks. Captives are licensed with DIFS and are subject to some of the same insurance regulations as traditional insurers.

Based on premium volume, Michigan has been in the top ten for U.S.-based captive domiciles. For 2023, the total captive insurer premium volume was more than $3 billion, approximately a 25% increase over 2022.

More information about Michigan’s captive insurance program, including information about forming a captive, is available by contacting Dave Piner, Director of the Captive Program, at 517-284-8759 or

The mission of the Michigan Department of Insurance and Financial Services is to ensure access to safe and secure insurance and financial services fundamental for the opportunity, security, and success of Michigan residents, while fostering economic growth and sustainability in both industries. In addition, the Department provides consumer protection, outreach, and financial literacy and education services to Michigan residents. For more information, visit or follow the Department on Facebook, X, or LinkedIn.