The Delaware Department of Insurance has announced a planned leadership transition following the upcoming departure of long-time captive bureau director Steve Kinion.
Captive insurance regulated by this division contributes millions of dollars to the State of Delaware and City of Wilmington each year. As of year-end 2021, the Bureau had 759 total active licenses.
“Despite challenges, we have pursued some of the nation’s most effective captive innovation efforts, like our conditional licensing program, and are set up success in future endeavours as well,” said Insurance Commissioner Trinidad Navarro. “This transition of leadership will continue our tradition of success, and we wish Steve Kinion the best in his future endeavours.”
The bureau director position operates via contract, and a recent request for proposal process resulted in a new awardee. The Department will announce the awardee as soon as a contract is finalised, which the Department hopes will occur in the next few weeks.
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