George Sumner, who has served as the Hawaii Captive Insurance Administrator and Deputy Insurance Commissioner for three and half years, has resigned his position. Sanford Saito is expected to be named as the interim leader.
During Sumner’s tenure Hawaii licensed 40 new captive insurance companies. Hawaii currently has 180 actively licensed captive insurers that contribute $40 million in direct and indirect spending on professional services and tourism related activities.
Fay Okamoto, chair and director of the Hawaii Captive Insurance Council, said: “we certainly appreciate George’s contribution to our industry and we wish him well in his future endeavours. We also offer our full support to the insurance division and anticipate an orderly transition.”