DALLAS, March 28, 2016 /PRNewswire/ -- Ryan, a leading global tax services firm, announced that Kenneth D. Kotch, Ryan Principal and Captive Insurance Practice Leader, has accepted a Board nomination to become a charter member of the Puerto Rico Captive Insurance Association. Given Puerto Rico's recent and rapid expansion in the U.S. Captive Insurance market, the Association will provide two-way communication and resources between the U.S. Captive Insurance community and Puerto Rico's Department of Insurance.
This type of professional association is very common in U.S. domiciles, but 2016 marks the first year that Puerto Rico has chartered such an association. Of the five charter members selected, Mr. Kotch will serve as the only "non-on-island" representative on the Board. The Association will have more than 100 members representing the insurance industry in Puerto Rico.
"This appointment will help Ryan ensure the further advancement of fair, informed, and innovative environments for ongoing development of the Captive Insurance market in the U.S.," said Mr. Kotch. "As one of the pioneers and industry leaders in Captive Insurance administration in Puerto Rico, Ryan is well-positioned and privileged to serve in this capacity."
"We are honored to have Ken Kotch serve on the Board of the Puerto Rico Captive Insurance Association to support our ability to deliver greater client value and results," said G. Brint Ryan, Chairman and CEO of Ryan. "Ryan's position in the market will be strengthened through unprecedented access to the development and implementation of shared policy planning with Puerto Rico's Department of Insurance and the legislative branch of the Commonwealth."
A captive insurance company is a privately held company—not an insurance product—that insures the risks of its parent company by issuing policies, collecting premiums, and paying claims similar to a conventional insurer.
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Ryan is an award-winning global tax services firm, with the largest indirect and property tax practices in North America and the seventh largest corporate tax practice in the United States. With global headquarters in Dallas, Texas, the Firm provides a comprehensive range of state, local, federal, and international tax advisory and consulting services on a multi-jurisdictional basis, including audit defense, tax recovery, credits and incentives, tax process improvement and automation, tax appeals, tax compliance, and strategic planning. Ryan is a three-time recipient of the International Service Excellence Award from the Customer Service Institute of America (CSIA) for its commitment to world-class client service. Empowered by the dynamic myRyan work environment, which is widely recognized as the most innovative in the tax services industry, Ryan's multi-disciplinary team of more than 2,100 professionals and associates serves over 12,000 clients in more than 40 countries, including many of the world's most prominent Global 5000 companies. More information about Ryan can be found at ryan.com.
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