New York State
Insurance Department


ISSUED 12/29/2003

FOR IMMEDIATE RELEASE

SERIO NAMES DAVID AHL AS THE NEWEST MEMBER OF THE DEPARTMENT'S CAPTIVE GROUP

        Superintendent of Insurance Gregory V. Serio today announced that he has named David Ahl the newest member of the Department’s Captive Group effective immediately. Mr. Ahl’s role in the Group will be Director of Captive Development, under the direction of Senior Deputy Superintendent Peter Molinaro.

        "David’s expertise in economic development, as well as his insurance background make him uniquely qualified for the needs of the Captive Group which was created earlier this year at the Insurance Department to be even more responsive to the needs of businesses in a rapidly changing insurance marketplace," said Serio. "I am pleased to welcome David back to the Insurance Department and look forward to his leadership in the development of captives in New York State as we continue to offer businesses more personal customer service and flexible insurance options to manage their insurance risks."

        New York State has seen a growing number of companies take advantage of the Captive Law since it was expanded by Governor Pataki last year to allow a wider range of businesses the opportunity to create New York State licensed captives. Mr. Ahl will join the Group’s current members: Senior Deputy Superintendent Molinaro; Jody Wald, Group Coordinator; Michael Moriarty, Group Capital Markets Advisor; and Michael Campanelli, the Group’s Counsel.

        "The Department anticipates having 20 licensed captives in New York State by year-end, having begun the year with only 4 captives," added Serio. "David’s intimate knowledge of the needs of businesses, specifically their insurance needs, in the current environment makes his arrival at the Department very timely as the Captive Group strengthens its efforts to provide businesses real solutions to risk management through captives."

        Mr. Ahl joins the Department from the Empire State Development Corporation (ESDC) where he was the Senior Director of Industry Development since September 11, 2001. Prior to his position as Senior Director, Mr. Ahl was Director of Industry Development where he was responsible for business development in the insurance industry. Prior to his employment with ESDC, Mr. Ahl worked at the New York State Insurance Department as Special Assistant to the Superintendent where he worked on venture capital legislation. Mr. Ahl holds a Bachelor of Arts in Management from Hartwick College and a Masters is Business Administration from Sage Graduate School in Albany.

 


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