Insurance Business Transfer (IBT) News

Oklahoma Insurance Department Plans Captive & IBT Conference

The Oklahoma Insurance Department (OID) announced it will host the inaugural Captive & Insurance Business Transfer (IBT) Conference in Oklahoma City on August 24-25. The conference is designed for risk managers, business owners, regulators, financial executives and insurance professionals, the …

Sentry’s Insurance Business Transfer Plan OK’d to Advance in Oklahoma

Wisconsin-based Sentry Insurance (Sentry) has gained approval from the Oklahoma Insurance Department to submit its Insurance Business Transfer (IBT) Plan to the District Court of Oklahoma County. This is the second IBT approved by an insurance commissioner in the United …

Commissioner: Oklahoma Completes First Insurance Business Transfer in U.S.

The District Court of Oklahoma County has approved Providence Washington Insurance Company (PWIC) to complete its Insurance Business Transfer (IBT) Plan, making it the first such transfer in the United States, according to Oklahoma Insurance Commissioner Glen Mulready. The Oklahoma …

Oklahoma Commissioner OKs Rhode Island Insurer’s Insurance Business Transfer Plan

Oklahoma Insurance Commissioner Glen Mulready on Nov. 26 authorized Rhode Island-based insurance Providence Washington Insurance Co. (PWIC) to submit its Insurance Business Transfer (IBT) Plan to the District Court of Oklahoma County for approval. According to the Oklahoma Insurance Department, …