Tennessee looks to the future
It’s been a busy year so far for Tennessee as a captive insurance domicile, as it looks to build on the successes of 2022 and then look forward, to 2024 and beyond, as Mark Wiedeman, director of the Tennessee Department of Commerce and Insurance’s (TDCI) Captive Insurance Section, told Captive International.
Wiedeman was appointed in February 2023 and talked to Captive International for its US Focus edition about where the state stands as a captive insurance domicile.
Wiedeman told Captive International that at the end of 2022 Tennessee had increased both its premium volume and the number of captives registered in the Volunteer State. He stressed that the captives that had arrived in the state were solid ones, along with a number of cell captives. Net premiums at the end of 2022 were around $2.1 billion, he said—and have increased since then.
“When you call us, you don’t get someone who may not know what they’re talking about—you’ll get somebody able to respond in a timely manner,” Wiedeman explained. “We have a reputation in the industry that we can be proud of, and we aim to improve on it.”
