29 September 2014USA analysis

ACM approved as captive manager

Active Captive Management (ACM) has been approved as a captive insurance manager in the state of Oklahoma. ACM is now one of nine approved captive managers in Oklahoma.

Additionally, the firm has added North Carolina to its 2014 roster and the states of Hawaii, Nevada and Oregon in 2013.

The manager said it looks forward to assisting the state in building new business opportunities as a result of recent adjustments to its captive law.

“Captive insurance is a natural fit for the three major industries in Oklahoma—farming, oil, and natural gas, all of which have risk management issues that are unique to their industry. ACM is very pleased to be among a handful of firms selected to support Oklahoma’s business base with the economic development tools of custom insurance coverage and asset protection offered through captives,” said ACM founder Fred Turner.