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Vermont Captive Insurance licenses exceed 40 for sixth year

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first_imgFor the 6th year Vermont surpassed the 40 new captives licensed mark with 41 new captive insurance companies in 2011 bringing the total number of licenses to 952, according to data released by the Vermont Banking, Insurance, Securities and Health Care Administration (BISHCA).Thirty were single parent captives, with six risk retention groups (RRG), three sponsored, one industrial insured, and one association. 2011’s new captive insurance licensees brings Vermont overall total to 952 with 590 active captive insurance companies.‘One of the most exciting aspects of 2011 and a perennial key to our success is the high quality of companies that we are privileged to work with,’ said David Provost, Vermont’s Deputy Commissioner of Captive Insurance.  ‘We’re also seeing the State’s continued investment in staff helping us continue to provide outstanding customer service.  That’s very much a part of what keeps Vermont the Gold Standard.’Despite the soft market each quarter of 201l had steady growth.  ‘This strong year is testimony to our continued commitment to maintain Vermont’s reputation as the Gold Standard of domiciles,’ said Governor Peter Shumlin.  ‘While other states continue to falter, Vermont’s stability and support has never wavered. We will continue to address the needs of the industry going forward and will not rest on our laurels.’The top industries licensing captives in the past year in Vermont were insurance, hospitals and medical groups and manufacturing.  Vermont was also busy with activity in risk retention groups which continue to be a growth sector.‘Vermont is the leader in RRG’s and that trend has been a constant. Another area of growth has been in redomestications of existing captives from other states and jurisdictions.  We continue to hear that Vermont provides the greatest value for your captive insurance company,’ said Daniel Towle, Director of Financial Services.  As 2012 begins, two new captives have been licensed and there are already four applications pending according to Towle.  ‘The overall market may be soft, but it is also very dynamic and we expect good things to come from 2012.’Captive insurance is a regulated form of self insurance that has been around since the 1960’s, and has been a part of the Vermont insurance industry since 1981, when Vermont passed the Special Insurer Act.  Captive insurance companies are formed by companies or groups of companies as a form of alternative insurance to better manage their own risk.  Captives are typically used for corporate lines of insurance such as property, general liability, products liability, or professional liability.   Growth sectors of the captive insurance industry include securitization, professional medical malpractice coverage for doctors and hospitals, and the continued trend of small and mid-sized companies forming captive insurance companies.Montpelier, VT ‘ January 10, 2012 ‘ www.vermontcaptive.com(link is external)last_img read more

Lionel Messi was ‘tempted’ to follow Cesc Fabregas to Arsenal, reveals former agent

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first_imgAdvertisement Comment Metro Sport ReporterTuesday 22 Sep 2020 11:05 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link740Shares Advertisement Messi could have joined Fabregas at Arsenal (Picture: Getty Images)Lionel Messi’s former agent, Fabian Soldini, has revealed the Barcelona icon was ‘tempted’ to follow Cesc Fabregas in moving to Arsenal back in 2003.The Gunners were interested in the Argentine while he was in Barca’s La Masia academy, but a move never materialised due to work permit issues.Fellow academy star Fabregas, however, did end up making the move to Arsenal and enjoyed a successful eight-year spell at the club, before eventually switching back to the Catalan giants in 2011. Lionel Messi was ‘tempted’ to follow Cesc Fabregas to Arsenal, reveals former agent Messi has returned to action for Barca (Picture: Getty Images)Messi’s former representative during his youth days, Soldini, admitted that the winger considered a transfer to north London.AdvertisementAdvertisementADVERTISEMENT‘[Messi] was tempted to go to Arsenal, but he didn’t go,’ he told Marca.‘I remember the day that Cesc asked to leave. Messi was also asked to go, but he didn’t want to leave.’More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing ArsenalEx-Gunners boss Arsene Wenger has claimed Arsenal were ‘close’ to signing Messi, but in a recent interview with BBC Sport, former scout Francis Cagigao admitted that while Wenger’s claims may have been slightly overblown, talks between the two parties did in fact take place.‘I think Arsene stated while manager that we were close to signing Messi [in 2003]. I wouldn’t go as far as saying we were close,’ he told BBC Sport.‘We were there or thereabouts and discussions took place with his representatives. He had issues with a work permit, so that was discarded.’MORE: Diego Simeone contacts Lucas Torreira as Atletico Madrid target loan deal with ArsenalMORE: Arsenal boss Mikel Arteta confirms no talks have started yet over new Alexandre Lacazette contractFollow Metro Sport across our social channels, on Facebook, Twitter and InstagramFor more stories like this, check our sport pagelast_img read more