Comerica Bank Named Captive Review Collateral Specialist of the Year

Rhea-AI Impact

(Low)

Rhea-AI Sentiment

(Very Positive)

Tags

Rhea-AI Summary

Comerica Bank earns U.S. Captive Services top banking award for second consecutive year

09/06/2023 - 08:45 AM

Comerica Bank earns U.S. Captive Services top banking award for second consecutive year

DETROIT, Sept. 6, 2023 /PRNewswire/ -- Comerica Bank was named the 2023 U.S. Captive Services Collateral Specialist of the Year by Captive Review for the second consecutive year. The award is the magazine's top U.S. banking honor recognized by the publication.

This marks the sixth time since 2014 Comerica Bank has received Captive Review's top banking honor.

"We are humbled to be recognized by Captive Review for our service to our captive insurance clients," said Martin G. Ellis, Comerica Bank Senior Vice President and Global and Captive Insurance Group Manager. "We are quite proud of our colleagues and their commitment to help our customers succeed. Every day, they prioritize putting our customer first and delivering our clients the resources and expertise they need."

The 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.

Comerica Bank has been named the top banking specialist or a finalist in each of the last 10 years.

Comerica Bank also won the Collateral Specialist of the Year in 2022 and earned similar awards previously, being named Banking Specialist of the Year (2019) and Collateral Service Provider of the Year (2014-15, 2017).

In addition to these top honors, Comerica Bank was named a finalist by Captive Review in 2021, 2020, 2018 and 2016.

"To be honored among the best for the past decade is a testament to our colleagues' dedication and teamwork to consistently offer and assist customers with exceptional service, as well as to the positive response from our customers on how we connect them to business solutions," said Ellis.

Captive Review evaluates the Collateral Specialist of the Year category by examining how a collateral provider delivers quality and efficient service.

The evaluation process examines case studies on how a collateral provider supports a client in a unique and challenging situation that required a specialized level of skill and demonstrates growth and retention of clients.

Client testimonials attested to the understanding of the complexities and uniqueness of the various captive structures, and Comerica Bank's responsiveness and creativity in providing the necessary banking solutions.

Comerica Bank's Captive Insurance Banking group provides specialized banking services for captive insurance companies, including letters of credit, reinsurance trusts, trust custody, and asset and treasury management services. Comerica Bank has offered banking services to captives since 1991. To learn more, visit http://www.comerica.com/captive.

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.

About Comerica
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Commercial Bank, The Retail Bank and Wealth Management. Comerica, one of the 25 largest U.S. financial holding companies, focuses on building relationships and helping people and businesses be successful. Comerica provides more than 400 banking centers across the country with locations in Arizona, California, Florida, Michigan and Texas. Founded 174 years ago in Detroit, Michigan, Comerica continues to expand into new regions, including its Southeast Market, based in North Carolina, and Mountain West Market in Colorado. Comerica has offices in 17 states and services 14 of the 15 largest U.S. metropolitan areas, as well as Canada and Mexico. Comerica reported total assets of $90.8 billion at June 30, 2023. Learn more about how Comerica is raising expectations of what a bank can be by visiting www.comerica.com, and follow us on Facebook, Twitter, Instagram and LinkedIn.