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Interview
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Norman Chandler
Arsenal Insurance Management
Norman Chandler is excited to see what Arsenal Insurance Management is capable of in 2017 after last year’s acquisition spree

Arsenal Insurance recently acquired Jade Risk. How does this benefit mutual clients?

The recent merger benefits both companies as well as all of our clients by bringing together two experienced teams of captive managers with a broad geographic spread.

Our professionals consist of former traditional insurance executives, former regulators, former third-party administrators, and several certified public accountants.

This combination of experienced professionals allows us to evaluate and implement the best practices from both organisations to continue being a recognised leader in the captive industry and position ourselves for the increased demand and growth in the captive industry.

This combination of experienced leadership will help guide and build our team of professionals to better serve our clients moving forward.

What was the motivation behind the acquisition of Jade Risk?

The motivation behind the acquisition was to formally bring together two market segments in the captive industry. Arsenal has generally focused on traditional captives while Jade has been focused on the small captive segment.

Will the acquisition allow Arsenal Insurance to expand its presence in the captive market? And what opportunities does this give the company?

This acquisition certainly helps expand our presence to new captive markets. We currently operate in four states: Alabama, Georgia, Florida, North Carolina and Tennessee.

With the acquisition of Jade Risk, we have added clients located in Texas and Oklahoma and we are positioned to work with other clients in the Midwestern US and surrounding states.

With the increased geographical presence, it gives us the resources to take advantage of opportunities we see in the captive industry.

Arsenal Insurance opened a new office in Florida. Are there any further plans for growth in 2017?

Arsenal established its presence in Florida in 2016 to better serve our clients in that market and take advantage of growth opportunities we identified. We anticipate further increases in staffing in Florida and in Tennessee in 2017.

After two acquisitions in 2016, we expect to focus more on the synergies from the acquisitions. Arsenal expects strong growth in 2017.

What predictions do you have for the captive market in 2017?

We see continued uncertainty in the market due to changes coming in Washington DC to healthcare and taxes. The Internal Revenue Service activity regarding small captives has slowed captive growth.

We expect that the 831(b) market segment will evolve further to encompass more traditional risks.

In the broader market, we expect continued growth in benefits captives after changes in Washington have settled.

We are excited and optimistic regarding the acquisitions in 2016 and we are looking forward to taking advantage of the growth and changes that we will see in the captive market.

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Guernsey must pay attention to UK’s ILS push, says McLaughlin
Guernsey should take the UK ‘seriously’ as it sets up an insurance-linked securities (ILS) regim Read more

Grant Thornton Cayman founding partner retires
Grant Thornton’s Terry Carson has retired, stepping down from his role as founding partner Read more

Drinker Biddle hires insurance pro in California
Dan Brown is based in the firm’s San Francisco office. He was previously a partner at Dentons wher Read more

Christina Kindstedt joins Advantage Insurance
Advantage Insurance has appointed Christina Kindstedt as senior vice president Read more

Delaware to allow captives to go dormant
Arkansas and Montana introduced legislation proposing a dormant status for captives last month Read more

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