With a sixteen-inch storm due at my Vermont house, this seemed like a good time to escape to 80+ degrees in Mexico City! Aside from the weather, the real reason is the VCIA’s curation of and participation in the first ever trade mission from the Vermont captive sector to Latin America; in particular, our southern neighbor Mexico, the second largest Latin American economy and one with robust industrial and manufacturing sectors. Our goal is simple: to establish lasting relationships between Mexican companies and the Vermont captive community.
My colleague, Janice Valgoi, has spent many hours moving this from a standard VCIA roadshow into a fully-fledged multi-day event that will include meetings with industry and financial sector leadership groups as we present the case for captive insurance in general and Vermont as a domicile specifically. My hope is that I will be able to provide real-time updates via my LinkedIn Page, and if we gather enough material, to produce a Special Mexico Trade Mission Report to VCIA Members, just like we did with Legislative Day.
Three years in the making (thanks COVID), these plans were revitalized as travel restrictions were lifted. We are now all delighted to be working on developing this market – one that Vermont already has exposure in – and building a global brand for our Brave Little State. Joining myself and Janice on this trip are Brittany Nevins from the VT Department of Economic Development (DED), and the Department of Financial Regulation (DFR)’s captive team of Sandy Bigglestone, Christine Brown and Jim DeVoe-Talluto. You can find the State’s informative press release about our trade mission here. In addition, Susan Murray of the US Commercial Service, and Tim Tierney, the DED’s Director of Business Recruitment and International Trade, have been a great help, and will also be joining us in Mexico City.
For our March 1st educational session, the Vermont contingent will be joined on stage by captive owners and managers from Mexico, as we all demonstrate how coverage and pricing challenges can be addressed through captives. We have an extraordinary talented lineup that will offer diverse perspectives on the innovative uses of captives for corporations. As I’m still a captive student, I will be sure to bring my paper and pencil!
Everyone has been so patient with this project, which was planned long before my arrival – and especially tolerant have been our sponsors, AIG & Marsh, as well as the State of Vermont, all who have graciously allowed us to rely on their support despite the delay. My sincere thanks goes out to our sponsors and everyone that has made this landmark trip for our association possible – especially you, Janice Valgoi! I look forward to sharing more once I’m on the ground in “The City of Palaces.”