Captive Insurance Analyst

Dakota Terry is the lead captive analyst with the Office of the Montana State Auditor, Commissioner of Securities and Insurance, where she leads the state’s captive insurance regulatory team and oversees licensing, ongoing financial analysis, and compliance for Montana-domiciled captives. Drawing on a background in financial engineering, she focuses on practical, risk-based oversight that maintains Montana’s position as a relationship-driven, innovation-friendly domicile while enforcing rigorous solvency and governance standards for captive insurers. In her role, Dakota has grown from intern to lead analyst over the span of five years. She has engaged with every facet of captive regulation and, most recently, has developed training materials and refined internal processes that codify Montana’s regulatory philosophy alongside statutory requirements. These efforts help her team deliver timely, nuanced reviews of applications, business plan changes, and annual filings. She is experienced in all things captive, with particular focus on corporate structures, formations, and emerging industry trends. Dakota grew up in rural Big Sandy, Montana, attended Montana State University in Bozeman, and now calls Helena home, giving her a grounded perspective on how captive insurance can support real-world businesses and communities under the Big Sky.