The Connecticut Insurance Department has named Janet Grace to oversee its Captive Insurance Unit.
Ms. Grace succeeds John C. Thomson, who has taken a job in the private sector, and will be based in Hartford, Connecticut, a Connecticut Insurance Department spokeswoman said Friday.
Previously, Ms. Grace was a consultant for Towers Watson & Co. Prior to that she was a senior account executive at Hartford Financial Services Group Inc., the Connecticut Insurance Department said Wednesday in a statement.
“Janet is a proven leader and widely respected for her expertise,” Commissioner Katharine L. Wade said in the statement. “As the interest in Connecticut captives continues to grow, Janet's knowledge of the industry and her creative and consultative approach are the perfect combination for companies seeking to domicile their captives in the state.”
According to the Connecticut Insurance Department, Connecticut has 10 captives.
The Tennessee Department of Commerce and Insurance licensed 57 captive insurers in 2015, bringing its year-end total to 126, state officials reported.