PUBLIC NOTICES & HEARINGS

BEFORE THE COMMISSIONER OF SECURITIES AND INSURANCE

OFFICE OF THE MONTANA STATE AUDITOR

TO:  All Concerned Persons

PLEASE TAKE NOTICE:

On July 21, 2025, the Commissioner of Securities and Insurance, Office of the Montana State Auditor (“CSI”), received a completed Merger Agreement (“Agreement”), including a plan and agreement proposing the merger of Commodore Risk Retention Group, Inc., a South Carolina captive insurance corporation (“Commodore SC”) with and into Commodore Risk Retention Group, Inc, a Montana captive insurance corporation and Montana captive risk retention group (“Commodore MT”). Commodore MT will be the surviving company from the merger. The Directors and Shareholders of Commodore SC authorized the transaction contemplated by the Agreement. Commodore MT approved this transaction by its shareholders.

Pursuant to the authority set forth in Mont. Code Ann. § 33-28-111(1), CSI is providing notice to the public prior to approval or disapproval of the merger in place of holding a hearing.

The Commissioner will approve the proposed merger within a reasonable time after receipt and review of comments, if any, unless CSI determines that the agreement and plan for merger: a) is contrary to law; b) is inequitable to the shareholders of any domestic insurer involved in this merger; or c) would substantially reduce the security of and service to be rendered to policyholders of the domestic insurer, Commodore MT, in Montana or elsewhere. Mont. Code Ann. § § 33-3-217(2), 33-28-111(3)(b).

Concerned persons may submit their comments or other information on the proposed merger in writing no later than 5:00 p.m., MST, Friday August 15, 2025, to: