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Montana expects
to license 10 new captives in the next three months. This
would take its total number of licences to 28.
The
companies originate from a wide range of industries, according
to Brenda Olsen, chair of the Montana Captive Insurance
Association (MCIA).
This year is
proving to be
Montana’s most
active since it enacted captive legislation in 2001, while
next year is expected to see a revision of the state’s captive
laws.
Montana’s
legislature will meet in January to consider making a number
of amendments including creating a new licensing category for
risk retention groups and clarifying wordings surrounding
captives, sponsored captives and protected cell companies.
Local
manager ORG Captive Management has expanded with the
appointment of Patrick McCabe as financial services leader in
its captive management services division.
In August,
the MCIA’s 2006 summer conference attracted more than 50
delegates. |
