Connecticut insurance regulators have approved another captive insurer to do business here.
State Insurance Commissioner Katharine L. Wade announced Wednesday that SOBC Corp., of New Jersey, is setting up its Hartford captive to help reinsurers that are exiting the market pay off their claims.
SOBC Insurance Co. Ltd.’s is this state’s 8th approved captive since lawmakers allowed them back in 2011, authorities said. Brian Johnston is president of SOBC Insurance.
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CT’s first captive insurer, courtesy Thomson Reuters
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Frontier Communications is CT’s 4th captive insurer
