Blockchain Initiative for Captives Launched
Burlington, Vermont, USA-based Distributed Ledger Governance Association (DLGA) in July 2019 launched a blockchain working group dedicated to captive reinsurance companies.
The U.S. state of Vermont is a major domicile for captive insurers and reinsurers.
DLGA’s mission statement is “to enable [its] members to successfully demonstrate and accelerate commercialization of their distributed ledger technology (DLT). [DLGA believes] this can best be accomplished through effectively engaging with government and stakeholders in Vermont and through this process [it hopes] to help set standards of governance and inform better legislation that will make Vermont the jurisdiction of choice for DLT.”
Its long-term vision states that it “will set global standards of governance and eventually serve as a membership organization for global DLT entities choosing to uphold these standards. It is likely many of them will domicile their US or even global legal entity in Vermont to benefit from a legal jurisdiction that is second to none for DLT companies.”
Among DLGA members, global broker and consultancy Willis Towers Watson (WTW) stands out.