For Immediate Release:
November 5, 2024
Oklahoma Nominated for International Insurance Domicile of the Year Award
OKLAHOMA CITY – Insurance Commissioner Glen Mulready announced the Oklahoma Insurance Department (OID)’s naming to the International Insurance Domicile of the Year shortlist. Oklahoma is one of just three domiciles nominated for this award, which will be given as part of the 2024 European Captive Review Awards in London on Nov. 20. The awards recognize captive insurance domiciles in two categories: European domiciles and non-European or international domiciles.
The European Captive Review Awards recognize the top providers and professionals of captive insurance products and services in the captive insurance market. It rewards innovators, creative minds and customer service pros who have outperformed their competitors and demonstrated the highest levels of excellence over the previous 12 months.
“Transcontinental insurance commerce benefits Oklahoma, and this nomination reflects the Oklahoma Insurance Department’s international presence and staff abilities,” said Mulready. “This recognition demonstrates that Oklahoma is a top-tier global captive insurance domicile. I am proud of the recognition for being on the shortlist and commend the exceptional work performed by the captive insurance team.”
In August, OID was named the 2024 Captive Domicile of the Year in the category of less than $5 billion in gross written premium by Captive Review magazine. Oklahoma has experienced significant captive growth, with a 31% net gain in new captive insurers and a 30% increase in premium volume from 2022 to 2023.
For more information about OID’s Captive Insurance Division, contact Steve Kinion at 918-704-8136 or Steve.Kinion.CTR@oid.ok.gov.