Head of Hawaii Captive Regulation Joins DTRIC Insurance Co.

Head of Hawaii Captive Regulation Joins DTRIC Insurance Co. Meg Green
Craig M. Watanabe, deputy Hawaii insurance commissioner and captive insurance administrator, has been named chief financial officer of DTRIC Insurance Co.

Watanabe was instrumental in developing Hawaii's captive infrastructure, and received the 2006 national award from the American Institute of Certified Public Accountants for outstanding CPA in state government, DTRIC said in a statement.

DTRIC Insurance Co. is a Hawaii-based insurer writing automobile, homeowners, umbrella, workers' compensation and general casualty insurance. AIOI Insurance Co. Ltd., one of the largest non-life insurance companies in Japan, owns 75% of DTRIC's common stock. Royal State Group, a conglomerate of insurance-related entities in Hawaii, owns the other 25%, according to a Best's Credit Report.

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

DTRIC Insurance currently has a Best's Financial Strength Rating of A- (Excellent).

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

Copyright © 2009 A.M. Best Company, Inc. Craig M. Watanabe, deputy Hawaii insurance commissioner and captive insurance administrator, has been named chief financial officer of DTRIC Insurance Co.