☰No. The word captive carries two unrelated meanings in insurance.
A captive insurance agent is a salesperson contracted to a single insurer. This means a State Farm or Allstate agent can only sell that insurer's policies. They are, in this sense, captive to that business. This has nothing to do with captive insurance companies.
A captive insurance company is a licensed insurance company owned by the business it insures. Premiums that would otherwise go to a commercial insurer are paid into the owner's captive, which pays the claims and keeps what remains as surplus. Over 8,000 captives operate worldwide as of 2026.
If you are researching a career selling insurance, the agent meaning might be the one you are looking for. If you are researching whether your business should own and control its insurance, you're in the right place with Luzern Risk.