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15th of May 2012

Hawaii seeks Japanese captives

Vicky Beckett 09/12/2011

Hawaii is trying to boost interest in captives and gain more business from Japan.
 
Last month, Hawaii insurance commissioner Gordon Ito and captive insurance administrator George Sumner hosted two captive insurance seminars in Tokyo.
 
They focused on the economic benefits of a captive and domiciling a captive in Hawaii.
 
Commissioner Ito (pictured) said: “This was a different format than we have conducted in the past.
 
“It gave us more individual contact with potential captives. We also set up individual meetings in Tokyo and Osaka with captive owners, prospective captive owners, traditional insurers, and a representative of the US Embassy in Tokyo.”
 
“We have a long-standing historical and cultural relationship with Japan, and thus can better help Japanese companies achieve their goals,” said captive administrator George Sumner.
 
Currently, Hawaii has 16 captive insurance companies that are owned by Japanese companies.

Tags: Captive, Hawaii, Insurance, Japan

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