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Lewes, Delaware
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June 24, 2005     Cape Gazette
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June 24, 2005
 

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ql W n CAPE GAZETTE, Friday, June 24 - June 27, 2005 - 47 Wilmington Trust acquires Charleston Captive Management OPEN HOUSE SAT., 6/25 1PM-I |PM Wilmington Trust, aprovider of Specialized management and fidu- ciary services to corporations worldwide, announced recently that it has signed a definitive agreement to acquire Charleston Captive Management Company (CCMC), a captive insurance management company headquar- tered in Charleston, S.C. CCMC provides a variety of ad- ministrative services that support the establishment and operation of captive insurance companies, also known as captives. These services include bookkeeping and regula- tory reporting. The firm's expert- ise complements the entity man- agement services that Wilmington Trust already provides to corpo- rate clients. "This acquisition broadens the service offerings of our Corporate" Client Services business line by giving us an established presence in a growing industry," said Ted T. Cecala, chairman and CEO of Wilmington Trust. "It advances our strategy to grow our fee-based businesses and further diversifies streams." Captives are insurance companies that are owned by their insureds. Because they are insur- ance companies and bear risk, they are regulated and must be li- censed. They usually are formed by companies that wish to better manage the cost and administra- tions." Wilmington Trust's status as an independent financial insti- tution was a decisive factor in bringing the firms together, said John J. O'Brien, CEO of Charleston Captive Management Company. "Independence is an important attribute for an organi- RESORT LIVING YEAR ROUND CLOSE TO LEWES & REHOBOTH BEACHES Class & Comfort! Never Occupied 4BR, 3.5BA, 2 Master Suites-one on 1st floor. ,i:i" -- Formal living room/dining room combo, family room w/fireplace, breakfast nook, 3 seasons room, ji full walk-out basement for game room or storage.  Too many upgrades to mention! Private community near DE beaches. Buy now and enjoy your summer! ! Offered at only 129000 Diana L. Whitney Realty, Inc (410)548-5484 " tion of their insurance coverage. Founded in 2001, Charleston Captive Management Company was the first captive management service provider to operate in South Carolina, which has devel- oped into a leading U.S. jurisdic- tion for captives. Popular jurisdic- tions for captives outside the Unit- ed States include Bermuda, the Cayman Islands, and Ireland. "Captive insurance manage- ment is a logical extension of our existing entity management capa- bilities," said William J. Farrell II, executive vice president and head of Wilmington Trust Corporate Client Services business. "We al- Continued on page 48 LINDA BOVA  BRIDGET BAUER REALTOR@, ABR . REALTOR@ (302) 542-4197 CELL .............. ;:  Associates (302) 245-0577 CELL i !. Direct: (302) 2_26-0338 Toll Free: (877) SEA-BOVA vIWrUAL TOURS at www.realtor.com/Sussex/LindaBova -- 8 ACRES ready operate in many of the cap- tive industry's key jurisdictions and we have the necessary infra- structure to effectively leverage our well-rounded revenue the strengths of both organiza- Wilmington Trust enhances Bank@Work program for employers BLOCK TO BEACH OCEAN VIEWS WATERFRONT Wilmington Trust recently an- nounced it has made enhance- ments to Bank@Work, a program that gives consumers access to personal banking services through their employers. Employers that provide Wilm- ington Trust's Bank@Work typi- cally do so as a benefit and con- venience to their employees. Any company that offers automatic payroll deduction is eligible for the service, which is free to em- ployers. Expanded services of Wilming- ton Trust's Bank@Work program include the following: Wilmington Trust no-fee checking account with no month- ly service fees: no minimum bal- ance required; free QuickCheclS M debit card with Wilmington Trust Total Rewards; free overdraft protection with a card; no annual fee; zero liability for unauthorized transactions Home equity line of credit, with flexibility to borrow when- ever extra cash is needed; low APR (annual percentage rate); no annual fee for the first year Certificates of deposit, with flexible terms from three months to nine years; preferred rates for Continued on page 48 SLAUGHTER BEACH - Southern Pointe Shores. Lot backs up to wildlife refuge & Bay is across the street, so the views from your future dream home should be breathtaking. Approx 0.2 acres. Public water avail. & septic eval. on file. $495,000 (MLS#523136) REHOBOTH BEACH - Olive Ave. at the corner of 1st St. 6BR/2BA w/2-car garage & off-street for 4. Immaculate. Excellent rental history; already fully rented for summer. Investment or "part- nership" purchase w/family or friends. $2,200,000 (MLS#522298) SPRING BREEZE - Hollymount Rd. Rare offering of 8-acre wooded, building lot. If you crave privacy or have horses, this could be the future site of your dream home! Septic eval. on file for standard system. Covenants, but no associate fees. $399,000 (MLS#524711) FALCON CREST - Lewes/Harbeson. Pretty -0.6 acres, wooded corner lot. Minimum house size is only 1,300 sq fl, but you'd have room to build a much larger home if you pre- fer,..maybe even a pool. So close to boating, beaches, golf, etc. Cape School District. $147,900 (MLS#512092) KINSALE GLEN - Country-Club style living. 3BR/2BA w/beautiful pond views. Full base: merit, office/sitting room, cathedral ceilings, Summer has arrived! List with the Independent, locally owned Realtor who gets results. Call us 645-5900 Join us for an open House in Wolfe Pointe Wilmington Trust Instant Access Savings Account: and free first order of checks Free on-line banking and bill payment services, with balance information and two months' statement history provided: trans- fer funds between Wilmington Trust accounts; customers can pay virtually anyone in the United States at any time and view and print images of cancelledchecks - VISA Platinum credit card, with low competitive interest rates, including automatic free enrollment in Wilmington Trust Total Rewards Program; cus- tomers can earn one reward point for every dollar spent using the Sunday, June h 12:00 to 3:00 Come and tour this beautififl new construction. This fantastic Colonial Farmhouse is 370Osq. ft., has 4 bedrooms & 4.5 baths, stunning wide plank floors, Kraftmaid cabinetry and a built-in wine cabinet. Plus an additional 900 sq. ft. of liv- hag space on the third floor ready to be fmished. Professionally landscaped, just waiting for your personal touch: 17024 Black Marlin Circle, Wolfe. Pointe, Lewes DEWEY BEACH - Beach block of Bellevue St. - Stand-alone 4BR/3BA condo with roof- top deck & 2nd floor batcony...both w/ocean views. Private off-street parking. Being offered fully furnished. Hurry - Best price in Dewey! $976,000 (MLS#521521) REALTY EXECUTIVES - Bay Coast, Coastal Hwy & 18977 Munchl, Branch, Rehoboth Beach, DE (302) 226-9466 OFFICE (800) 736-0459 Office Independently Owned & Operated by Bay Coast Development, Inc, gas FP & more. In- & outdoor community pools, fitness center, tennis & just 1 light to Reh Ave. $484,000 (MLS#518994)