The 2023 VCIA Conference will be held from August 7th to 10th in Burlington, Vermont. Vermont is the largest domestic captive domicile with over six hundred domiciled captives. Vermont is also the leading risk retention group domicile with 80 domiciled risk retention groups that reported gross written premium of $2,928.5 million in 2022—60 percent of all risk retention group premium. …
Montana’s Steve Matthews Looks Back on His Career and the RRG Industry
Montana Chief Financial Examiner and Captive Insurance Coordinator Steve Matthews will be retiring at the end of June. Matthews, who stepped in as the head of the Montana insurance team in 2005, has been in the position for over 18 years. Matthews started his insurance career on the traditional side in South Carolina in the 1990s. Montana—which has just shy …
EDIC Provides a Roadmap for RRG Success
Formed in 1992, Eastern Dentists Ins. Co. (A Dental Society RRG) (EDIC) has successfully served its members for more than 30 years. The Risk Retention Reporter spoke with EDIC President and CEO Edward Carroll on the factors that have contributed to EDIC’s long-term success, navigating a challenging investment environment, and strategies for achieving healthy premium growth at a small risk …
2022 Domicile Rankings: Vermont Leads and Texas Moves Up
Most risk retention group domiciles reported strong premium gains in 2022. Overall, thirteen domiciles reported RRG premium growth, and four domiciles reported premium declines. Connecticut saw two new groups form, but those groups have not yet reported premium. Vermont maintained its position as the dominant risk retention group domicile with its 80 risk retention groups reporting $2,928.5 million in gross …
RRGs Report Worst Surplus Decline on Record
Risk retention groups reported a surplus decline of $613.3 million in 2022, the largest surplus decline on record. The decline in surplus accompanied a record year for risk retention group premium growth, with premium increasing by $558.1 million in 2022. The risk retention group industry rarely sees declines in surplus, with declines occurring in only six years—2022, 2018, 2015, 1999, …