Hawaii search to hire new Captive Insurance Leader

 

Friday, Mar 06,2009, 9:42:28 PM   Click:

Hawaii search to hire new Captive Insurance Leader Meg Green
Hawaii is launching an international search to replace its chief administrative officer of the captive insurance, who left to go to the private sector.

Craig M. Watanabe, deputy insurance commissioner and Hawaii captive insurance administrator, was appointed Chief Financial Officer of DTRIC Insurance Co. (BestWire, Feb. 9, 2009).

Judy Nako, a senior examiner who has 16 years in the industry and is a CPA and the Governing Council of the Financial Corporation under review, will step in as interim director of the State conducts an international search for the successor of Watanabe.

"Craig has done a great job building industry captivity in Hawaii to his status as world class. He also left a strong team of specialists who understand their captive aspects," said JP Schmidt, Hawaii Insurance Commissioner.

At the end of 2008, Hawaii had 165 active prisoners. In 2007, prisoners in Hawaii was $ 6.8 billion in combined assets, according to the Hawaii Department of Insurance.

DTRIC Hawaii Insurance Co. is a script based on the auto insurer, home, umbrella, workers' compensation and general insurance. AIOI Insurance Co. Ltd, one of the largest insurance companies Nonlife in Japan, owns 75% of DTRIC common stock. Royal State Group, a conglomerate of insurance-related entities in Hawaii, which owns the other 25%, according to a report by Best's credit.

In terms of gross premiums written DTRIC is the eighth largest auto insurer in Hawaii, with a market share of 4%, according to AM Best data.

DTRIC Insurance currently has a Best's financial strength rating of A-(Excellent).

(By Meg Green, senior editor, BestWeek: Meg.Green @ ambest.com)

Copyright © 2009 hours Best Company, Inc. Hawaii is launching an international search to replace his chief of administration of captive insurance, who left to go to the private sector. Mr. Craig