Caitlin Morgan Captive Services has been approved by Utah to serve as a captive manager in the state.
Caitlin Morgan provides captive management solutions, offering insurance, risk management, and underwriting expertise to captives; developing and evaluating business plans and preparing financial statements; managing captive service providers and vendors; producing financial reports for the captive’s board of directors and maintaining regulatory reporting.
As of January, Utah had a total of 462 active captive companies and 74 active cells.
The Utah Captive Insurance Division licensed 68 new captive insurance companies in 2016, as well as 13 cell captives.
In addition to the captive growth, the Utah captive division implemented new processes for insurers, including an upgrade to its online forms and applications.
According to the Utah captive division, 2017 will be another “great year” for the domicile.
