Welcomes Utah 100 Captive: AFS security assurance
Utah Dir M. Jon Huntsman, Jr. welcomed the 100 Captivity insurance company, AFS AFS Security Insurance Co. is a unit of insured Associated Food Stores Inc., headquartered in Utah.
Commissioner of Insurance Kent D. Michie, Deputy Commissioner, Neal T. Gooch, Utah clamping Captive Donnie director and his collaborators,
also as a provider of services which, since instrumental in supporting the government as a rise in captivity has been the headquarters of insurance in hand for the celebration of April comfortable.
In 2004, Utah had two in captivity, followed by 14 in 2005, 30 in 2006 and 92 in 2007. Utah Captive Insurance Companies Act
was founded in 2003 with modifications in the next two years in the rules and statutes. Much improvement has been the removal of the premium taxes in 2005. The legislature has amended the Act of 2008 for the creation of a Special Purpose Financial
Captive Insurance Co. The amendment allows the organization and functioning of a SPFC in Utah to facilitate risk assessment of securitization transactions and other risk factors funding structures.
Michie Commissioner noted that “we compare the growth of five states, ranking in the Utah ago number of prisoners, Utah, growth last year was almost as numerous as the other five countries put
together. ”
In October 2006, Utah Insurance Department hired Donnie clamping a full-time as the first division Captive director. He proactive
Steps to win Business-to-Utah by attending numerous conferences and presentations.
Based on accounts for the year 2007, the Captive Insurance Division reports in captivity fortune of $ 676 million in capital and surplus of $ 86 million, with premiums of 92 prisoners a total of $ 244 million .
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