With a value of US$13.75 million, the bond aims to provide the firm with incremental retrocession protection.
This proposal follows the mention of micro-captives on its 2023 list.
The state is known as the largest captive domicile in the US, followed by Utah and North Carolina, holding 439 and 311 respectively.
The state currently hosts 311 captive entities, up from 294 in 2022, with Utah holding 439 and Vermont licensing 659.
The firm says it could reduce carriers' loss ratios by up to 10 points.
In this role, McDougald will be responsible for the overall growth, innovation and talent development of Victor US.
Titled ‘The Balancing Act of Captive Management’, the event will address inflationary challenges that insurance companies face.
With three decades in the fields of accident and health, as well as property and casualty alternative risk, Giles will lead ClearPoint Health’s enterprise sales organisation.
