At the recent VCIA conference in August, a rumor was being circulated that Bill White could be the next captive administrator of the U.S. Virgin Islands.
Bill, who has worked in many aspects of the industry, including captive administrator for Washington, D.C. and most recently Delaware, left Delaware this summer, looking forward to opportunities in the private sector. That's why I wondered if this was any more than a rumor.
When I talked to him late last week, Bill confirmed that he indeed has had a few conversations with U.S. Virgin Islands and that there is interest on both sides. Whether an offer is made remains to be seen, he said, adding that he has read through the U.S. Virgin Island's new statutes and finds them “intriguing.”
Meanwhile, after years as a captive regulator, he said he is enjoying being on the “other side.” He clarified that what he's doing now isn't captive management, but rather serving as a consultant and answering questions for people considering a captive formation. He said he now has a few projects and helps clients with queries such as, “Can I provide capital funding for a captive in this form?” and “What kind of risk elements do I have here?”
So what's the next step for Bill White? Stay tuned.
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