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Vermont Captive Celebrates 1,200th Licensed Captive Insurance Company
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Vermont licenses its 1,200th Captive Insurance Company
As Vermont reaches another significant milestone for our Captive Insurance industry, we look forward to continuing to grow our reputation as a global leader in this sector and utilize our position to bring more Captives to Vermont, said Governor Phil Scott. MONTPELIER, Vt. (PRWEB) February 11, 2021 Governor Phil Scott announced today that the Department of Financial Regulation (DFR) has licensed Vermont’s 1,200th captive insurance company. Sustainable Assurance Company was granted a license as a pure Captive Insurance Company on January 1, 2021. It was formed by the Lancaster County Solid Waste Management Authority (LCSWMA).
A Vermont captive assists a solid waste management authority in meeting its sustainability goals
Vermont Business Magazine Governor Phil Scott announced today that the Department of Financial Regulation (DFR) has licensed Vermont’s 1,200th captive insurance company. Sustainable Assurance Company was granted a license as a pure Captive Insurance Company on January 1, 2021. It was formed by the Lancaster County (PA) Solid Waste Management Authority (LCSWMA).
“As Vermont reaches another significant milestone for our Captive Insurance industry, we look forward to continuing to grow our reputation as a global leader in this sector and utilize our position to bring more Captives to Vermont,” said Governor Phil Scott.
Thu, 01/21/2021 - 1:03pm tim
Vermont Business Magazine The Vermont Department of Economic Development announced today that the State of Vermont licensed 38 new captive insurance companies in 2020, Vermont is now home to 589 licensed captives, consisting of 564 active and 25 dormant captive insurance companies.
“It is great news that Vermont has remained a consistent leader in the captive industry during the coronavirus pandemic,” said Commissioner of Economic Development Joan Goldstein. “Captive insurance plays a key role in our efforts to strengthen the state economy and its growth is welcomed as the pandemic continues to impact every sector of our economy.”
The new captives were licensed in healthcare, real estate, manufacturing, insurance, transportation, technology, construction, and professional services. New and notable companies this year include the University of Southern California, State Street Bank, Saputo, and the Blackstone Group. At least six of Vermont�