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Financial Crisis Creates Obstacles For Captive Formation

In the wake of the financial crisis, the captive industry is running into new stumbling blocks that can triple the time it takes to set up a captive, according to a captive manager here.

By Caroline McDonald | Updated on June 28, 2010

NU Online News Service, June 29, 1:20 p.m. EDT

BERMUDA–In the wake of the financial crisis, the captive industry is running into new stumbling blocks that can triple the time it takes to set up a captive, according to a captive manager here.

Gary Osborne, president of USA Risk Group in Montpelier Vt., here for the Bermuda Captive Conference, said an agency captive that previously might have been formed in two months time now is “rarely done in less than six.”

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