When Leonard Crouse began regulating the Vermont captive industry 18 years ago, there were only a handful of domiciles in the United States. During his tenure, not only has Vermont seen a steady growth in its own captive crop, with his state becoming the top domestic domicile, but it also is the model for all U.S. domiciles established since.

Now Mr. Crouse, Vermont’s deputy commissioner of captive insurance, is retiring in June, leaving a successful, tightly-run department and a leadership legacy.

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