I think it is a bit different for me. I am very ticklish and have never been able to just give in and enjoy it. I come nearest to it with people that I am very close to and trust - but even then it has to be someone I'm really close to, like a lover. And then I would say that I can cope with it a little bit better because in a way I feel less ticklish. It is when I get attacked by someone that I am less close to that the ticklishness is at panic fight-or-flight levels.
I think a huge part of my ticklishness is about the psychology of a situation as much as the physical sensitivity, and that is the deciding factor for me. My instinct to defend my physical boundaries seems to be above average, and I experience tickling as an invasion that is unbearable. I don't know why. I am not aware of any trauma in my past that would explain it. And in other ways, with close family, I am actually a very tactile and physically affectionate person.