Captives Proliferate In Pacific Rim
In the world of international captive domiciles, all eyes are on Australia and Pacific Rim countries, which are seeing a lot of new captives being formed as well as a spate of redomestications.
Legislation that allows the formation of captives in Australia is luring Australian parent companies back from Singapore and also provides alternatives for Pacific Rim companies seeking a domicile, according to industry experts.
"Australia is certainly a very fast-growing territory for us," said Stephen Cross, group managing director for Aon International Risk Management Group in Iselin, N.J., and a board member of the Minneapolis-based Captive Insurance Companies Association.
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