The North Carolina Department of Insurance pronounced its first full year of licensing captive insurers a success after 49 domestic captives were licensed during 2014, according to an insurance department release.
The Department of Insurance became authorized to license captives in late 2013. As of Feb. 1, it has approved 53 domestic captives in North Carolina. Insurance Commissioner Wayne Goodwin said the captive program exceeded expectations in 2014.
In addition to the 53 domestic captives insured thus far, the state has insured 31 captive managers, the insurance department said.
Goodwin ...
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