Martin Ellis, head of Comerica Bank’s Global and Captive Insurance Group, joined the IRMI podcast to share insights from his 24 years working in captive insurance. Martin covers topics from the critical role of custody accounts in securing assets for claim payments to why letters of credit (LOCs) remain a preferred collateral option due to their flexibility and ease of use. He also highlights recent industry challenges, notably the Vestu case, where fraudulent letters of credit led to increased regulatory scrutiny, and provides guidance for captive insurers navigating these evolving compliance measures.
About the speaker
Martin Ellis is the Senior Vice President and Manager of Comerica Bank’s Global and Captive Insurance Group. He has over 25 years’ experience at Comerica providing a full range of business banking solutions including acquisition financing to companies in many different industries including insurance, brokerage, and finance. Ellis is a CPA, has a BBA from the University of Notre Dame and an MBA from the University of Michigan.