“Captive insurance is a fast-growing and important part of Oklahoma’s economy,” said Insurance Commissioner Glen Mulready. “Donald’s knowledge and experience with captive insurance will ensure that Oklahoma continues to be an extremely competitive jurisdiction with a supportive and efficient captive formation process.”

A captive insurance company provides great flexibility to business owners who want to take control of their insurance programs. Captives exist to underwrite the risk of their owner(s) and affiliates. The OID’s Captive Insurance Division has pledged to make customer service a top priority as it recruits new companies. Oklahoma now has 40 licensed captives, with three new licenses issued last year.

“It is gratifying to see companies of varying industries across the country recognize Oklahoma as both a highly competitive and responsive captive jurisdiction. Along with a favorable captive regulatory platform, Oklahoma is a great place to do business,” said Ashwood. “I look forward to continued growth in the Oklahoma Captive Industry, and I am committed to help bring that to fruition.”

Ashwood looks forward to working closely with a new Captive Director in the near future. OID is currently recruiting for this position. Interested candidates should contact Andy Schallhorn at andrew.schallhorn@oid.ok.gov for more information.

Ashwood began his new role on February 1, 2021.

If you have questions about other insurance issues, please contact the Oklahoma Insurance Department at 1-800-522-0071 or visit our website at www.oid.ok.gov.