stockelements /
6 January 2014Actuarial & underwriting

Atlas commends NC team as it captures key business

Charlotte-based Atlas Insurance Management has won the first three captive insurance licenses issued in North Carolina.

One of the captives is based in North Carolina, but two of the new entities are out-of-state, with licenses granted to the new captives by the state on the 30 and 31 December.

Atlas were obviously pleased with their capture of the three captive licenses, but Martin Eveleigh, chairman of Atlas Insurance Management was keen to commend the North Carolina Department of Insurance’s captive insurance division.

“The director of captive insurance, Debbie Walker, and her entire team have been helpful, responsive and flexible, and their approach has been completely business-friendly. This is exactly the sort of approach that clients want to see, and I know we shall have more clients wanting to form their captives here in North Carolina,” said Eveleigh.

Commenting on the wider benefits of bringing captive insurers to the state, Eveleigh said: “State legislators were told that passing captive insurance legislation would bring economic benefits to the state and should be seen, in part, as an economic development measure. This has proven to be the case with fees already earned by professional service providers in the state and premium taxes soon to be due from these captive insurance companies.