Kevin Mead, CEO of the Vermont Captive Insurance Association (VCIA), announced his intention to step down from his role after three years, according to a statement released by the organization.
Mead, who has served as CEO since February 2022, will remain in his position until a successor is appointed.
In the announcement, Mead informed the VCIA board of directors to initiate the search for a new CEO. He committed to assisting in the transition process, including collaborating with a transition team to develop an updated job description and candidate profile for the role.
Mead emphasized that the organization’s operations would continue without disruption, serving its members and stakeholders. He noted that initiatives launched at the VCIA’s 2024 conference, which focused on strategic planning and establishing priorities in education, engagement, and advocacy, are progressing and will move forward as planned.
The VCIA’s 2024 conference laid the groundwork for its 40th anniversary celebrations in 2025, with plans for special events at the annual conference in Burlington from Aug. 11-13.
This milestone highlights the association’s enduring role in shaping the captive insurance industry, which has seen significant growth, including the licensing of eight new captives in the first week of January 2025.
The VCIA said that the search for Mead’s successor is underway, with the board expected to provide updates as the process advances.
Vermont holds the distinction of being the largest captive insurance domicile globally, having licensed 1,370 captive insurance companies as of January 2025, with 683 active and 29 dormant captives.
This prominence underscores the VCIA’s critical role in advocating for and supporting the state’s captive insurance industry, which has been a cornerstone of Vermont’s economy since the passage of its captive enabling legislation in 1981.
The association’s efforts have helped maintain Vermont’s competitive edge over other domiciles like Bermuda and the Cayman Islands, fostering a robust regulatory environment that attracts a diverse range of businesses.
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