Vermont captive guru Davis to depart for private sector captives role

Ian Davis, Vermont’s chief marketing and business development professional for the captive insurance industry, will leave state government on May 1 to accept a private sector opportunity in the captive insurance industry.

Davies spent five years with the Agency of Commerce and Community Development, including more than three as director of Financial Services at the Department of Economic Development.

Tim Tierney, director of Business Recruitment and International Trade at the Department of Economic Development, has been named interim director while the state completes its search for a permanent replacement.

As director of Financial Services, Davis played an active role in growing Vermont’s global captive presence, particularly in new and emerging markets. He helped organize the state’s first captive insurance trade mission to Mexico City and was a frequent presenter at national and international conferences and events, including the Vermont Captive Insurance Association (VCIA) Annual Conference and European Captive Forum.

Joan Goldstein, commissioner of the Department of Economic Development, said: “Ian has been a tremendous asset and important contributor to our state’s success in the captive insurance industry. We have a robust succession plan in place and have begun recruitment efforts immediately to ensure a smooth transition.”

Dave Provost, deputy commissioner of the Department of Financial Regulation, Captive Insurance Division, added: “Ian quickly learned the nuts and bolts of the captive industry and made himself invaluable to the captive community. Vermont is fortunate to have had Ian ably fill this role, and equally fortunate that he won’t be straying far.”

Davis said: “I am extremely grateful for having had the opportunity to serve the State of Vermont and represent Vermont’s leading captive insurance industry. I feel immensely proud of all that has been accomplished together during my tenure and leave knowing that Vermont’s captive industry is in a very strong position for continued success.”

Rich Smith, President of the Vermont Captive Insurance Association, added: “Ian Davis epitomizes all the qualities that keep Vermont in the vanguard of the captive insurance industry. He has served the State of Vermont and the captive industry with high energy, intelligence and integrity. Although I am saddened to see him leave this critical position, I am thrilled to hear Ian will continue to work in our amazing industry in his next step of his career.”