Marsh reports 6% rise in captive premiums to $77b in 2024

Marsh has assisted in forming nearly 500 new captives, including 92 in 2024. 

Marsh has reported a 6% year-on-year increase in gross written premium (GWP) for its managed captive insurance entities, reaching $77b in 2024. 

The growth was driven by companies responding to continued volatility in commercial insurance and reinsurance markets, according to Marsh’s 2025 Captive Benchmarking Report released on 30 June.

Over the past five years, Marsh has assisted in forming nearly 500 new captives, including 92 in 2024. 

On average, established captives added one or two new lines of cover in the past year, with financial institutions operating captives that write an average of six product lines.

Cyber insurance continues to gain traction, with Marsh-managed captives now writing over $170m in GWP for cyber risks—up from $30m five years ago. 

High-limit coverages ranging from $10m to $100m were primarily written for cyber, excess liability, and property risks in 2024.

Captives also expanded into lines such as directors and officers (D\&O) liability, trade credit, political risk, and contingent business interruption.

The report analysed nearly 1,500 Marsh-managed captives globally, offering insights into how firms are aligning captive strategies with broader risk management and business goals.