The Connecticut Insurance Department commissioner Andrew Mais has appointed Fenhua Liu as the new director of the department’s captive insurance division.
Liu has more than 25 years of experience in insurance and risk management, which commissioner Mais said “will serve [the department] well as we continue to see captive growth”.
Previously, Liu served as an insurance regulator for the State of Connecticut. She worked in the role from March 2009 until last month.
Connecticut’s captive insurance division licenses, regulates and examines captive insurers and risk retention groups in the alternative risk market for the state.
Mais commented: “As one of the top domiciles in the US in premium dollars in 2019, Connecticut has a portfolio with a number of large captives. The department is working to make Connecticut the domicile of choice for captive insurance companies.”
Earlier this year, the Connecticut Insurance Department announced it would be partnering with accounting firms in the state to expand its presence in the captive insurance market.
The insurance department suggested that accounting firms, are the “trusted advisor” to most mid-sized businesses, and are “best positioned to assist in the education and communication of the benefits of captive insurance companies to these businesses”.