North Carolina Names Michael Arcangel Captive Division Chief Analyst

Veteran captive regulator Michael Arcangel has been selected as the new chief analyst for the North Carolina Department of Insurance, Captive Insurance Companies Division.

Mr. Arcangel has been with the state's captive insurance division for more than 6 years, most recently as the supervising financial analyst for the division.

"Michael has been a valuable member of the financial analysis team with a strong work ethic. I congratulate him on this well-deserved leadership promotion with the Captive Insurance Company Division," North Carolina Insurance Commissioner Mike Causey said in a statement.

Mr. Arcangel said in a statement that he is grateful for the new position, adding, "It is exciting to help lead our wonderful captive team and build on the success of the North Carolina captive insurance program."

North Carolina is a major captive domicile. Currently, North Carolina has 267 captives, with 11 new captives formed so far this year and 8 applications now pending.