ALANNA TRUNDLE
Senior vice president, Global Captive Management
“Clients are looking at their captives and finding different ways to use them to support their business needs.”
Alanna Trundle qualified as an ACA (ICAEW) in the UK while working for Deloitte as an auditor. She moved to the Cayman Islands in September 2008 with Deloitte where she mainly focused on hedge fund audits. In September 2010, she moved into captive insurance when she accepted a position at Global Captive Management (GCM), a captive insurance manager in the Cayman Islands, as an account executive.
Over the past 13 years she has been building her insurance knowledge and has progressed in the company to her current role as senior vice president and a key member of the GCM management team. In addition, she became a shareholder of GCM’s parent company, Holmes Murphy & Associates in June 2022.
Trundle was described as having desire, passion, accomplishments, and potential. She wears multiple hats in her work and life at any given time and has found a way to balance and succeed at them all. Her work ethic and desire has propelled her to her senior leadership role at a relatively young age in an industry consisting predominantly of men.
Here Trundle explains what makes her role so rewarding, why she’d recommend captives as a career and how she thinks they will evolve in the near future.
Do you feel that the captive insurance industry is a rewarding sector to work in?
Yes, I find my role to be very rewarding. Working in captive insurance management means I get to use a diverse set of skills. Whether it’s using my technical skills when dealing with complex insurance transactions and accounting, or using my people and professional skills when providing tailor-made services to clients and actively participating in board of directors or client meetings.
The client-facing aspects of my job are not typical of all financial services-type roles and I enjoy working in a role that gives me the opportunity to utilise all my strengths.
Would you recommend the captive insurance industry to young people as a future career path?
Yes, as noted above, working in captive insurance provides a career with a lot of variety. There is a balance between technical and professional skills—but no two captives are the same. Whether it is the type of captive (single parent vs group), the ownership structure, the coverages written or the industry of the insureds, every captive has its own unique features and challenges which means you’re always learning.
How do you feel that the captive insurance industry will evolve?
Captives continue to reach a wider audience. Captives are no longer only for Fortune 500 companies or large healthcare systems. Increasingly, smaller to medium-size companies are being exposed to the benefits of captives and different structures are being developed to help them play in this space.
With the increasing uncertainty in the commercial market and reinsurance space, clients are looking at their captives and finding different ways to use them to support their business needs. Captives are inherently flexible and this helps them remain relevant in an ever-changing market.
Do you think that your long-term future remains in the captive insurance industry?
Yes. Captive insurance was not an industry I even knew existed when I first became an accountant in the UK. However, from the moment I joined GCM and was exposed to the intricacies of captives, I have enjoyed the fact that every day is different, and I face new challenges daily—whether it is a new coverage that I haven’t seen before or, in my management role, learning how to create an environment that will help others thrive.
I’m excited about the future. I want to see how we can continue to evolve captives for the benefit of our clients and help guide the next generation of leaders in our industry to succeed.
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