DALLAS, Oct. 23, 2014 /PRNewswire/ -- Comerica Bank has been recognized by Captive Review Magazine with a 2014 U.S. Captive Services Award in the category of "Collateral Service Provider." The 2014 U.S. Captive Services Awards "recognize and reward those providers of captive insurance products and services who have outperformed their competitors and demonstrated the highest levels of excellence over the past 12 months," according to the publication.
"We have been fortunate to win other industry awards in the past, so this award is another confirmation of the excellent customer service our colleagues at Comerica Bank have been providing to captive insurance companies for many years," said Martin Ellis, senior vice president and manager of Comerica's Captive Insurance Banking Services.
The award for being the #1 collateral service provider is especially meaningful, according to Ellis.
"We provide both of the main collateral types for captives, which are letters of credit and reinsurance trusts," said Ellis. "While some of our competitors only provide one option, we provide a full range of banking services and will put clients into the collateral option which is best for them."
Ellis credits the team-based approach at Comerica for the continued recognition.
"We have a dedicated captive insurance team and our captive banking specialists stay up to date on the latest industry developments," said Ellis. "Our relationship managers regularly call on clients with our product partners from other areas of the bank, consistent with our trusted advisor role. We have upgraded our systems and streamlined our documents over the years and are constantly looking for ways to improve customer service."
Comerica's Captive Insurance Banking Services group provides specialized banking services for captive insurance companies, including letters of credit, reinsurance trusts, trust custody, asset and treasury management services. To learn more, visit http://www.comerica.com/captive.
About Comerica Bank
Comerica Bank is a commercial banking subsidiary of Comerica Incorporated (NYSE: CMA), a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. Comerica reported total assets of $68.9 billion at September 30, 2014. To find us on Facebook, please visit http://www.facebook.com/ComericaCares. Follow Comerica on Twitter at @ComericaCares and follow Comerica Chief Economist Robert Dye on Twitter at @Comerica_Econ.
About Captive Review
Captive Review and captivereview.com are published with the concerns and interests of the risk management and captive insurance communities firmly in mind. Captive Review was launched in December 1999 and is now published monthly. Captive Review and captivereview.com are wholly owned by Pageant Media Limited, an independent publishing company that was formed in February 1998 and has grown to become a leading information provider within its core markets.
SOURCE Comerica Bank