NU Online News Service, Nov. 19, 3:54 p.m. EST
Atlas Insurance Management has added Utah to its list for captive management approval, having also been recently approved in Delaware and Montana.
Atlas received approval from Delaware on Oct 29 and Montana on Oct 21, the company told NU Online News Service.
Atlas said it is opening an office in Salt Lake City, Utah to bring the company closer to clients and regulators in the western United States.
The Salt Lake City operation will include a satellite office in Seattle and will be led by Steven Pfeiffer, who has more than 25 years of insurance industry experience as broker, risk manager, underwriter and captive manager, Atlas said.
Atlas Chairman Martin Eveleigh noted that the new approvals, together with the opening of the Salt Lake City office "just five months after we started our Charlotte operation are the result of our plan to bring Atlas's services closer to our clients across the United States and to put us within easy reach of regulators in key domiciles."
Mr. Pfeiffer added, "There are tremendous opportunities for Atlas in the Western United States. With more U.S. domiciles available, Atlas can meet the needs of any captive owner. I am very much looking forward to working as part of a great team of forward looking people at Atlas and to building strong relationships with our clients in this part of the country."
Atlas Insurance Management is an independent captive manager, providing captive insurance company consulting, formation, and management services in several United States domiciles as well as in the Cayman Islands, Anguilla, the Bahamas, and Nevis.
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