North Carolina DOI captives head retires

26-01-2022

North Carolina DOI captives head retires

Debbie Walker, head of captives, NCDOI

Debbie Walker, head of the captives division at the North Carolina Department of Insurance (NCDOI), is retiring after 30 years. She’ll leave her post as senior deputy commissioner at the end of March, insurance commissioner Mike Causey announced.

Walker is responsible for overseeing and promoting North Carolina’s captive insurance company regulatory program. Jackie Obusek, senior deputy commissioner of the department’s company services group, will assume “senior leadership responsibilities” for the captives regulatory program alongside her other duties. Causey will also name a deputy commissioner to be directly in charge of the program by the end of March, the NCDOI said.

Since the state enacted the Captive Insurance Act in October 2013, North Carolina has become a leading domicile. It has licensed or conditionally licensed approximately 395 captive insurers as well as over 870 cells and series for about 1,265 risk-bearing entities through to the end of December 2021. 

“The outstanding customer service and business friendly yet prudent regulatory approach of the department make North Carolina a place captive insurers want to call home. Commissioner Causey intends for these benefits to remain in the place for the captive industry going forward,” said a statement from the NCDOI.

Walker first joined the department as a financial analyst in 1991, after seven years as a senior accountant at Durham Life Insurance Company. She held a range of positions before heading the captives division, including chief financial analyst, responsible for oversight of the financial solvency and compliance regulation of insurance companies licensed in the state. 

Obusek has been with the NCDOI since 1996, joining as a financial examiner and quickly rising through the ranks. In 2017, she was appointed senior deputy commissioner and currently oversees several divisions, including those responsible for financial analysis and licensing, financial examination, receiverships and liquidations, and actuarial services.

NCDOI, Retirement, Captive, Insurance, Reinsurance, Debbie Walker, Mike Causey, Jackie Obusek, North America

Captive International