Microsoft gets final approval to fund benefits through captive

January 18, 2012

WASHINGTON—The Labor Department has given Microsoft Corp. final authorization to expand benefit risks funded through the software giant's captive.

Redmond, Wash.-based Microsoft will use the Vermont branch of its Bermuda-based captive, Orcas Ltd., to reinsure life insurance and accidental death and dismemberment policies written by Prudential Insurance Co. of America Inc. READ MORE.