5 February 2021Law & regulation

Oklahoma appoints captive coordinator

The Oklahoma Insurance Department (OID) has named Donald Ashwood as its new captive coordinator and is looking to appoint a new captive director “in the near future”.

Ashwood joined the OID in 2014 and was most recently financial operations officer.

Glen Mulready, Oklahoma’s Insurance Commissioner, said captives are a fast-growing and important part of Oklahoma’s economy. The OID’s captive insurance division has pledged to make customer service a top priority as it recruits new captives, with 40 licensed captives currently operating in the state, including three that were licensed in 2020.

Ashford said: “It is gratifying to see companies of varying industries across the country recognise Oklahoma as both a highly competitive and responsive captive jurisdiction. Along with a favorable captive regulatory platform, Oklahoma is a great place to do business.”