Utah Department Promotes Stephanie Liu to Assistant Captive Director

Stephanie Liu, a captive insurance specialist and financial examiner in the Utah Insurance Department for nearly 6 years, has been promoted to assistant captive director.

Ms. Liu replaces Mark Wiedeman, who is leaving his position to become an independent captive consultant.

"I am honored to be presented with this opportunity taking over Mark's role as the assistant director for the captive insurance division. I have been working closely with the team for the past 6 years and will continue to do so in the many years to come," Ms. Liu said in a statement.

Mr. Wiedeman said in a statement that while the decision to leave his role as a captive regulator was not an easy one, he is looking forward to his "continued association with regulators and industry leaders."

Utah is a major captive insurance domicile. At the end of 2021, Utah had 384 captives. Those captives generated $2.0 billion in gross written premiums, up from $1.6 billion in 2020.