Connecticut's captive insurance industry thrives through strong regulator partnership
The Connecticut captive insurance industry is benefiting from its excellent relationship with the state regulators, as Captive International found out in an exclusive interview with the Connecticut Captive Insurance Association (CTCIA) president, P.J. Cimini.
In his view, Connecticut’s regulators are tough and fair, and are looking for entities that can bring substantive and impactful captive insurance and innovative risk management business to the state. He explained that as a captive insurance domicile, with unique historic insurance roots, Connecticut is more about quality than quantity.
Cimini said that CTCIA is very proud to work with Connecticut Insurance Department commissioner Andrew Mais; deputy commissioner Jared Kosky; and Fenhua Liu, director and assistant deputy commissioner of the Captive Division; who are supportive and experienced insurance regulators.
“Given our unique mix of depth in insurance workforce and broad experience with risk-based business and insurance entities, Connecticut has become a ‘go-to’ domicile destination and positive environment for potential captive entities to consider.
“We’re carving a niche in a solid lane and we continue to grow,” Cimini stated. “From the investment money management part of the captive business to the deep bench of captive vendors in accounting, underwriting and actuarial fields, Connecticut has a wonderful captive insurance ecosystem that provides tremendous support right here in our state.”
