09 August 2017
Reporter: Becky Butcher

Connecticut welcomes first healthcare captive

Keystone Indemnity Company, the captive of Masonicare, has re-domesticated from Vermont to Connecticut, marking the state’s first healthcare liability captive insurance company.

Keystone, originally licensed in Vermont in 2001, is the provider of healthcare and retirement living communities for seniors.

Katharine Wade, Connecticut insurance commissioner, said: “We are delighted to welcome Keystone to Connecticut. Not only is Keystone our first healthcare liability captive, but it is a captive owned by Masonicare, a respected Connecticut provider of state-wide long-term care, home health care and hospice care, and assisted and independent living services.”

Jon-Paul Venoit, president and CEO of Masonicare, added: “We are grateful to the regulators in Vermont who helped Keystone prosper over the last 16 years.”

“We felt it was time to honour our commitment to Connecticut seniors by bringing our captive insurance company ‘back home’. Once we saw the creative energy of the captive movement in Connecticut, we at Masonicare decided that we needed to be a part of it.”

Michael Maglaras & Company advised Masonicare and Keystone on the re-domestication.

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