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New Jersey-based SOBC Corporation is establishing a sponsored captive insurance subsidiary in Connecticut that is intended to specialize in helping reinsurers exiting the market pay off their claims. The subsidiary, SOBC Insurance Company Limited, is Connecticut’s eighth captive insurer and first so-called “sponsored captive” company since 2011 legislation cleared the way for the state to begin licensing these specialty insurers.

The Connecticut Insurance Department recently licensed the SOBC-sponsored captive after an extensive application process. 

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