For Immediate Release:
November 2, 2022
Steve Kinion to Lead Oklahoma Captive Division
OKLAHOMA CITY – Oklahoma Insurance Commissioner Glen Mulready announced the appointment of Steve Kinion as the Oklahoma Insurance Department’s new Captive Director.
Kinion previously served 13 years as the captive director for the Delaware Insurance Department. Captive Review magazine has named him multiple times to its global “Power 50” listing the 50 most influential figures in the global captive insurance industry. He holds the Associate in Captive Insurance (ACI) designation which is the highest professional designation for captive insurance. Fewer than 650 persons in the world have earned the ACI.
“Steve is a recognized leader and effective advocate of the booming captive insurance sector,” said Insurance Commissioner Glen Mulready. “His extensive knowledge and experience with captive insurance and insurance law and regulation will ensure that Oklahoma stays an extremely competitive jurisdiction. We look forward to welcoming Steve back to Oklahoma.”
“Oklahoma’s strengths as a captive insurance domicile is having regulators who understand captive insurance and its statewide commitment to captive insurance in both the business community and all sectors of state government. I look forward to taking the lead role in furthering Commissioner Mulready’s goal to bring the Sooner State’s captive insurance program to a higher level of excellence,” said Kinion.
Kinion first joined the Oklahoma Insurance Department in 1995 as counsel to the Oklahoma State Board for Property and Casualty Rates and as an assistant general counsel. From 2001 to 2008, he served as the chairman of the board of directors for the Oklahoma Health Insurance High Risk Pool. He is a former chair of the American Bar Association Insurance Regulation Committee and is a member of the Federation of Regulatory Counsel. He served more than 30 years in the U.S. Army Reserve, retiring in 2017 at the rank of lieutenant colonel.
Captive insurance is a form of self-insurance. Captive insurance companies are owned by entities wishing to better manage the cost and administration of their risks. Oklahoma’s business-friendly laws and regulatory infrastructure make it the leading jurisdiction for business. The OID is committed to ensuring the state’s statutes and regulations keep pace with the changing needs of the global captive insurance industry. To learn more about Oklahoma captives, visit oid.ok.gov/captive.
Kinion began his new role on November 1, 2022.