21 February 2023Analysis

VCIA announces Mexico roadshow

The Vermont Captive Insurance Association (VCIA), as well as officials from the state of Vermont, will be taking part in a captive roadshow in Mexico on March 1.

The roadshow will be in the St. Regis Hotel, Mexico City, Mexico and panellists at the roadshow will include: Christine Brown, director of captive insurance - Vermont Department of Financial Regulation – Captive Division, Sandy Bigglestone, deputy commissioner captive insurance - Vermont Department of Financial Regulation – Captive Division, Brittany Nevins, captive insurance economic director, State of Vermont Department of Economic Development, Santiago Dawson, Corporate development and Financial Products at América Móvil, Alejandro Santos, Latin American leader for risk analytics & captive solutions, Marsh, Mike Serricchio, managing director, Marsh, Alfredo Cobix, head of M&A, Tax & Legal, KPMG and Kevin Mead, president, VCIA.

In a statement on its website the VCIA said: “As the interest in captive insurance continues to grow among Latin American companies, the State of Vermont seeks to ensure that the captive concept is well understood and communicated, including the benefits of being regulated in a reputable onshore jurisdiction. Join us for this session where our expert panelists will focus on the basics of captive insurance companies; the reasons for formation, the feasibility process and key issues in putting a successful captive program together.”

The trade mission is a collaborative effort with the US Commercial Service, the trade and promotion arm of the US Department of Commerce’s International Trade Administration, and Vermont’s Department of Economic Development via its State Trade and Expansion Program, a program funded by the Small Business Administration.

“The trade mission is a great example of Vermont’s mutually beneficial trade relationship with Mexico,” said Vermont Governor Phil Scott. “We want to make it clear that Vermont is a global industry leader, and we welcome companies from around the world.”

According to the VCIA the roadshow will include a brief overview of the Vermont domicile and experts will discuss emerging tax issues for Mexican captive insurance programs setting up operations in the United States.