Tennessee Names Daniel Clements Assistant Captive Section Director

Daniel Clements, a veteran insurance executive and regulator, will join the Tennessee Department of Commerce and Insurance's (TDCI) Captive Insurance Section as its assistant director, the TDCI has announced.

"Daniel has the critical, real-world industry experience, leadership, and expertise that will translate into solving regulatory challenges faced by captive insurance companies who may choose to establish a domicile in Tennessee," Jonathan Habart, Tennessee's captive insurance director, said in a statement.

Mr. Clements has broad experience in both the public and private sectors and previously worked at the TDCI, where he was in charge of examinations of insurance companies.

He also served as director for regulatory, audit, and internal controls for AIG/Fortitude Re, where he led regulatory efforts for a third-party administrator that oversaw 4.5 million insurance policies, the TDCI statement noted. Mr. Clements also worked as a financial audit lead examiner for CIGNA Health.

Mr. Clements said in the statement that he welcomes rejoining the TDCI "as we continue to transform Tennessee into the premier captive domicile."

Currently, Tennessee has 149 captives, along with 352 cell captives, with gross written premiums topping $1.72 billion in 2021.