Saturday, September 13, 2025

Membership options

Home Blog Page 106

Adele Gale appointed GIIA chair

0

Adele Gale, director and group head of ILS at Robus Risk Services, has been appointed the new chair of the Guernsey International Insurance Association (GIIA).

Gale succeeds Mark Elliott as chair, with James Stewart, client services director at Artex Risk Solutions, taking over as deputy chair.

GIIA was founded in 1983 to represent the combined interests of both Guernsey insurers and Guernsey insurance managers.

The Association has been involved in several initiatives in recent years, including the development of an ESG Framework for Insurers in 2021 and an updated certificate & diploma in international insurance management, in partnership with the Sagacious Group and GTA University Centre.

Saudi mining giant forms Dubain captive

0

The state-owned metals and mining company Ma’aden has established a captive insurance company in Dubai.

Ma’aden Re Limited is managed by Marsh Management Services (MENA) Limited and its chairman is Yaser A Barri, who is also senior vice president and CFO at its parent company.

“We look forward to establishing our presence in DIFC with the new captive licence,” said Barri.

“The Centre’s strategic location, modern business environment, and world-class services will support Ma’aden in achieving our growth strategy.”

Dubai is the fastest growing captive domicile in the Middle East.

Ronny Vellekoop, Senior Executive Officer for Marsh Captive Solutions, based in Dubai, discussed the domicile’s profile and development in GCP #61, released in December 2021.

Arif Amiri, CEO of DIFC Authority, said: “As the region’s insurance hub, which includes captives, DIFC is looking forward to supporting Ma’aden in achieving its growth goals and helping them better control risks and reduce costs.”

Ma’aden is among the fastest-growing mining companies in the world, with 17 mines and sites and 6,000 direct employees.

Ma’aden is developing the mining industry in alignment with Saudi Arabia’s Vision 2030 and aims to be a role model in responsible and sustainable operations.

GCP Short: Hylant’s European captive strategy

0
Anne Marie Towle, Hylant
Alex Gedge, Hylant

This GCP Short is produced in partnership with Hylant Global Captive Solutions, and explores their view and strategy for expansion into the European market.

In a 15 minute discussion, Richard is joined by Anne Marie Towle, CEO of Global Captive Solutions at Hylant, and Alexandra Gedge, Senior Captive Consultant based in London.

Anne Marie and Alex outline Hylant’s observations of the market on this side of the pond and their ambitions to provide captive management and consulting in the UK and Europe.

Aurélien Schwachtgen to join Aon

0

Aurélien Schwachtgen will join Aon Global Risk Consulting in April as director of client solutions, boosting the broker and captive manager’s presence in the French market and across the region.

Schwachtgen, based in Paris, joins from WTW where he is currently head of alternative risk transfer for western and central Europe and will report to Ciarán Healy, chief commercial officer for EMEA.

“Aurélien is one of the most well respected alternative risk transfer and risk advisory professionals in the French region and will play an integral role the development and execution of opportunities for Aon’s Global Risk Consulting team,” Healy said.

Schwachtgen will have a remit across Europe, Middle East and Africa (EMEA), but his hire is particularly timely with growth in the French captive market expected to accelerate in 2023.

He has previously worked for Axa Corporate Solutions holding a number of positions including pricing actuary and P&C Risk Manager.

GCP Live @ CICA 2023

0
Nick Troxell, Allianz
Anne Marie Towle, Hylant
Jason Flaxbeard, Brown & Brown
Cheryl Baker, Stellantis
Dan Towle, CICA
Theresa Severson, Kite Realty
Paul Phillips, EY
Adriana Scherzinger, Zurich

This GCP Live episode was recorded in front of a live audience as the closing session of the CICA International Conference in Palm Springs, California on Tuesday, 7 March.

Richard is joined by eight guests for a fun discussion, including hearing something new about each captive professional, sharing examples of captive innovation and competing in more captive trivia.

The eight panellists are:

  • Nick Troxell, Manager of Global Captive Fronting, Allianz
  • Cheryl Baker, Head of North American Risk Management, Stellantis
  • Jason Flaxbeard, Executive Managing Director – Alternative Risk, Brown & Brown
  • Anne Marie Towle, Global Captive Solutions Leader, Hylant
  • Dan Towle, President, CICA
  • Theresa Severson, Vice President of Insurance & Risk Management, Kite Realty
  • Paul Phillips, Partner and Global Captive Network Co-Leader, EY
  • Adriana Scherzinger, Head of Captives and Alternative Risk Solutions, Zurich North America

For news, analysis and thought leadership on the global captive insurance market, visit the Captive Intelligence website.

Marsh launches Delaware cell facility, specifically for D&O

0

Marsh Captive Solutions has established a cell captive facility in Delaware, specifically designed to serve clients seeking alternative risk transfer options for Side A directors and officers (D&O) insurance.

Marsh has been a leading voice on captive options for Side A since the D&O market hardened significantly four years ago, with clients utilising cells, often in Bermuda, as they sought alternatives to the commercial market.

The Global Captive Podcast discussed this strategy at the height of the D&O market crisis with Marsh’s Lorraine Stack and Beth Thurston in November 2020.

In February 2022, Delaware’s corporate code was amended to expressly permit the use of captives to self-insure most Side A exposures of businesses that are headquartered in the State.

Captive Intelligence revealed in December that social media giant Meta had transformed its Hawaii-domiciled pure captive into a sponsored captive with a cell being used to self-fund Side A D&O, taking advantage of the Delaware legislative change.

We understand at least one other Hawaii captive, owned by a Delaware corporate, has since replicated that structure.

Despite Marsh already having cell companies in Washington DC, Vermont, Bermuda, Malta and Guernsey, Donna Weber, senior vice president and pooling & cell facilities leader, told Captive Intelligence they specifically wanted a Delaware facility for Side A D&O risks.

“The approved Delaware law is a significant step forward as it allows more companies to consider a wholly owned captive or a “cell” as a partial or complete solution for covering Side A D&O claims,” Weber said.

“We feel that the combination of the new Delaware law, combined with utilisation of a cell facility domiciled in Delaware, provides the closest alternative to commercial insurance with least amount of potential issues.

“As one example, since both the corporate law and the captive law are both Delaware, potential public policy conflicts that may arise if the captive is domiciled outside of DE are removed.”

Weber said that the Side A cell option would be of particular interest to companies facing high premiums or “struggling to obtain sufficient capacity in the commercial market”.

She added that in some instances the cell option may be a better solution than utilising a pure captive already in the group.

“The use of a protected or segregated cell facility (PCC) is more arms-length from the company itself and therefore might be a better fit to fund non-indemnified loss,” Weber explained.

“A PCC is a stand-alone entity with ownership, management, and control largely independent of the company seeking to insure its directors and officers.

“Decisions related to the policy’s response and the provision of Side A D&O coverage can be set up to be independent of the company. Potential concerns about influence by the company’s management and concerns about disgruntled shareholders should be ameliorated.”

Cannabis captives a big opportunity, pending further legalisation


  • US domiciles open to licensing cannabis captives, but await further state and/or federal legalisation
  • States report strong start to 2023 licensing activity
  • Hard insurance market, particularly in property, driving new formations

Captive regulators in the United States canvassed by Captive Intelligence at the 2023 CICA International Conference discussed the potential for licensing cannabis captives, as well as the impact of the hard market, new legislation and the 831(b) tax election.

Some form of medical marijuana is now legal in 37 states, while 21 states have legalised recreational marijuana use. The product, however, remains illegal at the federal level, which makes banking and insurance procurement challenging.

Subscribe to Ci Premium to continue reading
Captive Intelligence provides high-value information, industry analysis, exclusive interviews and business intelligence tools to professionals in the captive insurance market.

Nick Hentges is new CICA chair

0

Nick Hentges, CEO and principal of Captive Resources, LLC, has been appointed the new chair of the board of directors of the Captive Insurance Companies Association (CICA).

Hentges has been with Captive Resources since 1993 and led them in various roles since 2014.

He has been a member of the CICA board since 2020 and also serves on CICA’s NEXTGen Committee.

“This is a phenomenal time to be involved in captive insurance and I am honoured to serve as CICA’s Board Chair,” said Hentges.

“As CICA and the captive industry grow I look forward to working with my board colleagues and our volunteer leaders. We want to provide the education, advocacy, best practices and professional development our members need to help their captives create the innovative solutions that fuel our industry’s growth.”

Hentges discussed the growth of group captives and Captive Resources in GCP #79, released in February.

Mary Ellen Moriarty, vice president for property & casualty at EEIA, has been elected vice chair while Heather McClure, chief risk advisor for Aon’s US Healthcare Practice is now secretary/treasurer of CICA.

Renea Louie, chief operations officer at Pro Group Captive Management Services, serves as the immediate past chair.

Cheryl Baker, head of North American risk management at Stellantis, and Prabal Lakhanpal, vice president at Spring Consulting Group, have been appointed as new CICA board members.

Courtney Claflin, head of insurance at Fluid Truck, Colin Donovan, president of STICO Mutual Insurance Company, a Risk Retention Group, Deyna Feng, director of captive programs at Cummins Risk International, Udo Kappes, director at RWE AG, and Michael Zuckerman, assistant professor at Temple University, are returning CICA board members.

LaDelfa joins Xchange Benefits to lead new captive unit

0

Managing general agent Xchange Benefits, owned by Ambac Financial Group, has appointed New Jersey-based Christopher LaDelfa as senior vice president and head of its captive solutions unit.

The captive solutions unit is a newly created division that will utilise Xchange’s wholly owned protected cell company, Distribution Re.

LaDelfa spent the last five years at Berkley Accident and Health, where he was director of programme management. Prior to that he was with AJ Gallagher for 14 years.

“I am so pleased that Chris with his nearly 20 years of stop loss industry experience, integrity and reputation has agreed to join the Xchange team,” said Peter McGuire, CEO of Xchange Benefits.

“Chris has been deeply immersed in the delivery of captive solutions for a number of years and so is more than equipped to grow this important capability for Xchange.”

Distribution Re, which is domiciled in Tennessee, insurers accident and health risks mainly in the form of high deductible medical stop loss plans and was launched earlier this year.

LaDelfa said: “I am honoured to join the Xchange leadership team and leverage my unique employee benefits and group captive experience to help grow and support the captive segment at XB.

“Peter McGuire and his team are proven professionals and Xchange is well positioned for continued growth and success. I am very excited to get started.”

McGuire recently spoke with Captive Intelligence for a long read exploring how MGAs are increasingly launching their own captives as a means of accessing more capacity and profiting from their book of business.

SRS buys majority stake in MSL claims adminstrator

0

Strategic Risk Solutions has acquired a majority interest in specialist medical stop loss claims administrator Alpha Isles Services LLC (AIS).

The expansion of SRS’ services into claims administration follows the news that New York private equity firm Integrum had made an investment into the independent captive manager.

AIS provides outsourced claims administration services to medical stop loss managing general underwriters (MGUs) as well as claims review and audit services to insurance companies.

“We have been impressed by the level of services provided by AIS and the best practices they bring to the operation of a medical stop loss claims department,” said Brady Young, president and CEO of  SRS.

“This is a great opportunity to bring these services to our clients and partners and continue to grow AIS. The expansion of our services into claims administration in the medical stop loss space is consistent with the selective addition of services complementary to our captive management business.”

AIS was only founded in 2021 by Anne Trupiano, Robyn Eagan, and Nina Carrico and is headquartered in Massachusetts, operating across the United States.

Eagan and Carico will continue as vice presidents of the company with Trupiano leaving the business.

“We are grateful for the opportunity we have had to start AIS and work with Anne Trupiano to successfully establish the company,” said Eagan.

“We are also excited to build out our vision for a best-in-class claims administration company with the support of SRS.

“Their reputation within the alternative market and relationships with brokers, employers, insurance companies and other service providers provides an ideal platform for us to deliver and enhance our services.”