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4th of February 2012

Vermont captive growth rate increases

Gavin Bradshaw 22/07/2010

Vermont has licensed 17 new captive insurance companies in the first half of 2010, 3 more than the same time last year, according to a statement issued on 21 July.
 
Captive growth in 2009 in Vermont was also much improved on the previous year, with 39 new captives being licensed.
 
“This is a very encouraging sign at a time when the national economy’s outlook is still unknown,” said Sandy Bigglestone (pictured), the new director of Captive Insurance at the Department of Banking, Insurance, Securities and Health Care Administration (BISHCA). 
 
 “Quality companies like Proctor and Gamble, PriceWaterhouseCoopers, Crowe Horwat; and Towers Watson & Co still see the value of establishing a captive as an integral part of their risk management regardless of uncertain market conditions,” she said.
 
This year’s crop of new Vermont captives includes 15 pure captives, four of which are special purpose financial captives and two risk retention groups.

Tags: BISHCA, Sandy Bigglestone, Special purpose financial captive, SPFC, Vermont

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Robert Preston 02/08/2010 4:56pm

Will this be covered in next weeks VCIA show?

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