Zurich North America has selected Vermont as the domicile for a new sponsored cell captive company, according to the Vermont Department of Financial Regulation.
The captive, Hoplite Reinsurance Company of Vermont, means Vermont now has 1052 licensed captives.
Steve Bauman, senior vice president and head of captive services of global corporate in North America, commented: “Setting up a sponsored cell captive insurance company in Vermont provides a great opportunity for Zurich to deliver additional loss-sensitive solutions to our customers.”
Dan Towle, Director of Financial Services for the State of Vermont, added: “Zurich is one of the leaders in the insurance industry and in the captive industry through its broad spectrum of captive services and loss-sensitive solutions.”
