Gaffney to retire from Vermont Financial Regulation

Vermont Commissioner of the Department of Financial Regulation Kevin Gaffney will retire at the beginning of 2025, the state announced. 

Sandy Bigglestone (pictured), currently Deputy Commissioner of the Captive Insurance Division, will become Acting Commissioner. She will continue lead the captive division following her appointment. 

“Sandy’s extensive experience and strong leadership make her the perfect person to lead the department as we head into the New Year,” said Gaffney. “The deep bench within the Captive Insurance Division ensures this change will have no impact on Vermont’s captive insurance industry. This will be a smooth transition and I thank Sandy for stepping into this role.” 

 Gaffney is retiring after serving as commissioner of the DFR since 2022. In March 2019, Gaffney was named DFR Deputy Commissioner of Insurance. Prior to that for more than 12 years, he served as Director in the Insurance Division Rates & Forms section. Gaffney has been an enthusiastic supporter of the captive insurance industry during his time as commissioner. 

“I’m honoured to step up to serve the department knowing that we have a robust team in the Captive Division to continue business as usual,” said Sandy Bigglestone. “We continue to provide the highest quality of regulation at the speed of business for Vermont’s captive insurance companies.” 

Bigglestone has been working in the Captive Insurance Division of DFR for over 25 years, serving as Deputy Commissioner since 2022, responsible for the regulation of Vermont’s Captive Insurance companies. The Division is comprised of 32 staff members with extensive careers regulating captive insurance companies. 

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