VCIA to Host Member Think Tank on Captive Insurance Company Turnarounds

The Vermont Captive Insurance Association (VCIA) will host a virtual Member Think Tank on March 5 from 2 p.m. to 3 p.m. (EST) examining how two Vermont captives were successfully repositioned after facing operational and financial challenges.

Titled "Captive Makeover: A Case Study in Turning Around Troubled Programs," the session will feature adviser Bill Murray and Steve Ratterman, CEO of FRMT, Ltd., a captive providing insurance for college fraternities. The discussion will focus on real-world turnaround strategies, key decision points, and lessons drawn from efforts to stabilize and strengthen captive performance.

The scenario-based session will explore how specific strategies were developed and implemented, highlighting warning signs that can signal distress within a captive structure and the governance and operational adjustments required to address them. Participants will have the opportunity to engage with the presenters on critical decision-making when a captive program reaches a crossroads.

Mr. Murray brings 39 years of experience in the US property casualty insurance sector. Over the past 29 years, he has been involved in improving results at 13 property and casualty insurance companies or units and can furnish profit-and-loss data, drawn from public information, reflecting profitability for businesses under his responsibility. He is currently involved in the management of the FRMT Vermont captive through Brown & Brown's Arrowhead division and leads MGA Launch Underwriters' MS Transverse primary commercial general liability unit.

Mr. Ratterman has served as CEO of FRMT, Ltd., since January 2023. Before assuming that role, he spent 20 years as a member delegate and board member of FRMT, including serving as secretary/treasurer of the board. He holds a bachelor of science degree in insurance from the Kelley School of Business at Indiana University and began his career at Travelers Insurance Company before spending 20 years as a broker. Over the past 2 decades, he has worked across several industries, focusing on business turnarounds and development.

The event is available exclusively to current VCIA member organizations. Registration is open through VCIA's online event portal HERE.