Liberty Mutual Opens Vt. Captive Management Office

NU Online News Service, Feb. 2, 2:35 p.m. EST?Liberty Mutual Captive Services announced it has opened Liberty Mutual Management LLC, a captive management office in South Burlington, Vt.[@@]

Kathryn Boucher, a veteran in Vermont captive management, is the principal representative for the Vermont business, the company said. The company secured approval for the office on Jan. 20.

Liberty Mutual Management LLC in Vermont will provide captive management as well as consulting, fronting, reinsurance support, claims services and loss prevention.

Services can be obtained separately, to complement an existing program, or in a bundled capacity, the company said.

Liberty Mutual said the office’s capabilities include managing wholly owned captives and rent-a-captives such as protected cell structures and association and group facilities in a variety of industries.

“Vermont is the largest on-shore domicile in the U.S. and was the obvious next step in the continued growth of our on-shore presence,” said Peter J. Willitts, president of Liberty Mutual Management Services.

He said Vermont’s “strong captive professional services infrastructure made it an attractive arena for us and is a perfect fit for Kate’s expertise?her skills align perfectly with the strong reputations of both Liberty Mutual and the State of Vermont.”

Liberty Mutual Management LLC also has captive management companies in Bermuda and South Carolina?opened in October 2004.

Vermont Gov. Jim Douglas said, “Liberty Mutual will be a terrific addition.”

Captive services can be contacted via the Internet at captiveservices@libertymutual.com or at 1-802-343-2488.