Indiana-based Butler University has re-domesticated its Bermuda single-parent captive to be a cell captive in Vermont.
The university is the proprietor of the world’s first student-run captive insurance company.
Butler’s ‘Davey Captive Insurance Company’ has been officially licensed in the state.
Other changes to the captive include a shift in the hands of management from Aon to Hylant Global Captive Solutions, spearheaded by a former student at Butler, Claire Richardson, captive consultant at Hylant.
Commenting on the decision, Victor Puleo, Davey chair of risk management and insurance in the Lacey School of Business at Butler University, says: “Vermont recognised and wanted the opportunity to have a relationship with Butler and the only student-run captive.
“There are 34 states with captive legislation in the US that could’ve had our captive, but Vermont wanted it more than anyone else.”
In the latest issue of Captive Insurance Times, Butler University’s Puleo and Craig Caldwell, dean of the Lacey School of Business, discuss the move in an exclusive interview. Click here to read more.
