Dear Friends,
Tune up your skis and dust off that snowsuit because winter has arrived in Vermont. This is an incredible time of year to visit the Green Mountain State as the mountains glisten from fresh snowfall and the ski resorts are alive with activity. Vermont winters are truly a playground for the adventurous spirit. Rest assured your Vermont Captive team has been hard at work, capitalizing on the momentum of steady industry growth in 2006. We added 37 new captive insurance entities to our growing list. Check out the Feature News story and the Welcome to New Captives to learn more. Vermont Governor, James Douglas, joined us in Boston on February 22nd. He spoke during the Strategic Advantages of Captive seminar and enjoyed meeting everyone at the reception. We look forward to seeing you at future events.

Best wishes from all of us at the State,

Len, Derick & Dan

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Leonard D. Crouse, CFE, Named 2007 Distinguished Service Award Recipient
The 2007 CICA Distinguished Service Award honoree, Leonard D. Crouse, CFE--Deputy Commissioner for Captive Insurance, State of Vermont--will be recognized on Monday, March 12 at the CICA International Conference for his significant contributions to advancing the captive insurance industry. Industry professionals, especially those with Vermont-domiciled captives, will want to be in attendance to congratulate Len Crouse as he receives the industry's highest honor.

Captive Insurance Industry Expands
Vermont adds 37 new captive insurance entities in 2006. New trends of Triple X and health-care facility captives are gaining momentum.

“Steady and sustained growth," is how Vermont officials described 2006's final tally for captive insurance, as 37 new captive insurance entities were licensed. New to the nation’s largest domicile, include such well-known companies as Starbucks Corp., McGraw-Hill, Principal Financial Group, Ameren, and Aegon. To find out more, click here.

NEWS BRIEFS

Slow But Steady
The reinsuring of employee benefits in captives is showing some growth.

Setting the Standard for an Industry
Integrity, innovation, and a team approach define the style of Vermont's Len Crouse.

Wells Fargo to Fund Benefits via Captive
Company receives tentative OK to fund employee benefit risks

ADM Mulls Adding More Benefits Risks to Captive

VERMONT WELCOMES NEW CAPTIVES IN THE 3rd & 4th QUARTERS OF 2006

New York Shipping Association, Inc., Pure, Marsh Management Services Moss Adams, LLP, Pure, AIG Insurance Management Services, Inc. University Physicians Associates, PC, RRG, AIG Insurance Management Services, Inc. GMAC Mortgage Corporation, Pure, Marsh Management Services TVC Insurance, Pure, Innovative Captive Solutions So. Co. Hosp. Healthcare System Endowment, Pure, Marsh Management Services National Systems Contractors Association, Association, Champlain Captive Management Dupont Chemical and Energy Operations, Sponsored, Wilmington Trust SP Services (Vermont), Inc Ameriprise Financial, Inc., Pure, Willis Captive Management Pedcor Capital, LLC, Pure, Northern States Management, Inc

Oak Real Estate Association, Association, Aon Insurance Managers Hartford Life Insurance Company, Pure, Willis Captive Management United Insurance Company, Sponsored, Aon Insurance Managers 1101 First Ave., Inc., Pure, HSBC Insurance Management American Dental Partners, Inc., Pure, Strategic Risk Solutions McGraw-Hill Companies, Inc., Pure, Aon Insurance Managers Gastroenterologists & Endoscopic Centers, RRG, HSBC Insurance Management CA State Auto Association Inter-Ins Bureau, Sponsored, Marsh Management Services AEGON N.V., Pure, Willis Captive Management AEGON N.V., Pure, Willis Captive Management Principal Financial Group, Inc., Pure, Willis Captive Management

PHOTOS FROM WORLD CAPTIVE FORUM & HOUSTON EDUCATIONAL SEMINAR

State of Vermont and VCIA Captive Educational Seminar, Houston, TX
February 8, 2007

World Captive Forum
November 13-15, 2006

UPCOMING EVENTS

March 11
Tucson, Arizona
Captive Insurance Companies Association Annual Conference

March 20
Washington, DC
State of Vermont and VCIA Captive Educational Seminar & Mixer

April 29
New Orleans, LA
Risk and Insurance Management Society Annual Conference

TASTE OF VERMONT

There is no doubt that ski season is in full swing in Vermont. Find out how to get up to date ski conditions sent directly to you through a podcast or your e-mail address. Vermont is also home to world-class spas, restaurants, and unlimited off-mountain activities. Find out more today.

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