Montana insurance commissioner Monica Lindeen will step down from her role at the end of this year after coming to the end of her eight-year term.
Lindeen was originally elected as insurance commissioner in 2008. She was re-elected to a second term in November 2012.
Lindeen said in her foreword for the Montana Captive Insurance Association’s latest Domicile Report: “This is my last year as Montana’s insurance commissioner. I’m proud of how our captive programme has grown over these last seven years, and I’m honoured to have worked with so many great professionals involved in the captive industry.”
It was a successful 2015 under Lindeen, with Montana reaching 191 captives and collecting more than $1.7 million in taxes.
Lindeen went on to say in her foreword that lawmakers in the state have “continued their strong support” of the captive insurance industry.
Last year, Montana passed legislation that enabled public entities to form and own captives, and another law to prorate minimum premium tax for captives in their year of closure.
Lindeen said: “I’m proud of the hard work of the captive insurance professionals in my office as well as with the Montana Captive Insurance Association. We’re working together to make Montana the premier onshore captive domicile.”
