The state of Hawaii has promoted Andrew Kurata to acting insurance administrator for the department of commerce and consumer affairs insurance division.
Kurata replaces Sanford Saito, who has moved to the private sector.
Kurata has been with the Hawaiian government’s insurance division since 2011, working as an examiner and programme specialist. He has also worked in the audit department at KMH, a business consultant based in Honolulu.
In 2016, Hawaii’s captive insurers wrote $6.22 billion in premium volumes and invested nearly $1.05 billion in assets through Hawaii financial institutions.
Hawaii’s captive insurance branch staff has doubled since 2009, to better serve the state’s growing captive insurance industry.
Gordon Ito, insurance commissioner of Hawaii,said: “The captive insurance branch’s team of experienced, dedicated staff has and will continue to provide a stable, committed and business-friendly environment which makes Hawaii one of the premiere domiciles in the world.”
He added: “To date, the total number of captives in Hawaii have grown to 223, with 20 new captives admitted in 2017. We hope by the end of the year, we break the record of the most newly admitted captives in a single year in Hawaii.”
