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4th of February 2012

Vermont issues 900th licence

Katy Mughan 11/08/2010

The State of Vermont has issued its 900th captive insurance company licence to Lincoln Financial Group, according to the Vermont Department of Banking, Insurance, Securities and Health Care Administration (BISHCA).

Lincoln Financial, based in Randor, Pennsylvania, is the 22nd new captive insurance company licensed this year in Vermont, during what has been a very active year for new formations in the State. 

Dan Towle, Vermont's director of financial services for the Vermont Agency of Commerce and Community Development (pictured above), said:  "While reports show limited activity in the captive sector, Vermont is bucking the trend with a strong first half of the year and it is very encouraging that interest continues to be robust."

Vermont is the largest captive insurance domicile in the US, and the third largest in the world in numbers of captives licensed.

Forty-two of the companies that make up the Fortune 100 and 18 of the companies that make up the Dow 30 have Vermont captives.

Tags: BISHCA, Dan towle, Vermont

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