MONTPELIER—The State of Vermont and Vermont Captive Insurance Association (VCIA) will send a delegation of government, regulatory and industry representatives to Mexico to highlight Vermont’s leading captive insurance industry. Working in collaboration with the U.S. Commercial Service, the trade and promotion arm of the U.S. Department of Commerce’s International Trade Administration, the delegation will lead captive insurance educational forums hosted in Mexico City the week of March 23, 2020.
“The goal of this trade mission is to increase awareness of Vermont as the leading U.S. domicile for captive insurance and highlight our state’s mutually beneficial trade relationship with Mexico,” said Ian Davis, Director of Financial Services. “We look forward to meeting with corporate leaders, industry executives and prospective captive owners from across Latin America during the educational forums and related engagements.”
The educational forums will include participants from Vermont’s captive industry and feature informative panel discussions, educational content and networking opportunities designed for Latin American insurance and risk management professionals interested in forming a captive insurance company.
“There is growing interest in captives among insurance and risk professionals in Latin America,” said Dave Provost, Deputy Commissioner of Captive Insurance. “Our aim is to help ensure that the captive concept is well understood and communicated, including the benefits of being in a reputable onshore jurisdiction like Vermont.”
“We have a number of captives that do business in Mexico and Latin America,” said Rich Smith, President of the Vermont Captive Insurance Association. “As the captive market in the region continues to grow, we want to make sure those companies know Vermont is open for business.”