Travis Wegkamp has been appointed the new director for the Utah captive insurance division, replacing David Snowball, who is retiring after two years in the position.
Wegkamp joined the Utah captive division in 2011 as an audit manager. He has been credited with helping to develop new and revised captive rules and regulations, and has performed financial analysis and examinations.
He also helped to create Utah’s suite of online captive services, the first of its kind in the US.
Under Snowball’s leadership, the number of captives in Utah increased to reach 445 captive companies and 71 captive cells. According to the state’s insurance department, captives also experienced a prolonged period of growth and stability during that period.
Utah Insurance Commissioner Todd Kiser said: "I am extremely pleased and gratified that the Utah Captive Insurance Division staff has the depth of experience to allow a promotion from within its ranks."
He added: "Travis Wegkamp has been an asset to this department for many years, and I am confident that his leadership will maintain the positive trajectory that has been a hallmark of the state's captive industry."
Wegkamp commented: "In recent years we've focused heavily on being a leader in developing innovative technological advances to serve our clients and make doing business in Utah a quick and simple process."
He said: "Utah's captive insurance industry has seen some phenomenal growth in the past few years—that's a tradition I plan to continue."
