18 January 2018Analysis

Advantage opens Vermont office to support growth of captive services

Advantage Insurance, a provider of customised insurance solutions and captive manager, has opened an office in Burlington, Vermont, to support the growth of its captive insurance services business.

The company has also sponsored a new protected cell captive, Advantage Insurance of Vermont PCC, to give clients access to captive insurance services within the Vermont domicile.

“Expanding our market footprint to Vermont is a significant milestone in the growth of Advantage’s Captive Insurance services business," said Les Boughner, chairman of Advantage's captive insurance services business.  "Our new Vermont presence complements our existing operations in Arizona, Grand Cayman, Puerto Rico and South Carolina and confirms our commitment to providing clients with access to a full range of domicile choices and captive insurance structures.”

The Vermont office is led by Christina Kindstedt and Sandra Griffith, both of which have experience managing captives in Vermont.

Advantage expects to hire additional staff in Vermont to support growth as measured by number of clients and overall volume of business serviced from its new office location.

Walter Keenan, CEO of Advantage, added: “Vermont has a well-deserved and longstanding reputation as the leading captive insurance domicile in the United States.  We thank the Captive Insurance Division of the Vermont Department of Financial Regulation for their support for our entering the state, and we look forward to the success of our clients who choose Vermont as their Captive Insurance home.”