Towle, who served in the position for 17 years, stepped down from the role to become the new president of the Captive Insurance Companies Association, effective 24 April.
Davis will be responsible for the marketing and business development for Vermont’s captive insurance industry.
Previously, Davis served as policy specialist for the commerce and community development agency.
Davis said of his new job: “I am both honoured and excited to be representing Vermont as the leading on-shore captive insurance domicile. The captive insurance industry creates clean, high-paying jobs and employs over 1,600 Vermonters. It also generates significant tax revenue and tourist activity. It is one of Vermont’s best success stories of economic development.”