Celebrating 50 years of innovation—and still driving positive change

A golden anniversary is an achievement and an important landmark in any context. To achieve it in the captive insurance space, a fledging industry half a century ago and one that has developed and evolved so much in that time, is an accomplishment indeed.

That is why this special publication, designed to celebrate 50 years of progress for the Captive Insurance Companies Association (CICA), was conceived and created.

Pulling this publication together revealed many fascinating insights—some expected, some surprising. But the overall theme that shone through in most of the content and interviews conducted, was one of innovation, forward-thinking and progress.

Far from resting on its laurels as the focal point for an industry that is in many ways traditional, CICA is actively driving positive change forward—and that made this publication a pleasure to work on.

In the following pages we showcase many cutting-edge initiatives being implemented by CICA. Notable among them are some of its programs to encourage more talent into the industry. It acknowledges that the sector has an aging workforce and wants to play its part in promoting the career opportunities the captives sector can offer.

The association’s NEXTGen and Amplify Women committees are pioneering initiatives that are as good as anything similar found in an area of risk transfer globally. They are designed to encourage the best talent to enter the industry—something that will stand the sector in good stead for many decades to come—maybe even the next five!

Rapid growth

Such initiatives are taking place against a backdrop of rapid growth and great positivity in the sector—driven partly by the hard market, and partly by the fallout of COVID-19, but also by a growing understanding in the wider risk transfer markets of the value of captives to their parent companies.

CICA can, and should, take some credit for that changing perception of the industry. It has developed many schemes designed to showcase what it can offer as well as drive and develop the adoption of best practices in the industry. Again, this will stand the sector in good stead for another 50 years.

At this pivotal moment in its history, it is perhaps natural for CICA to reflect and regroup as it considers the future. The interviews in this publication illustrate the positive energy and ideas coming to the fore in the association—these are also reflective of an industry on the front foot and growing with confidence in its own relevance and place in the wider risk transfer landscape.

This bodes well for the future of the sector, especially as those ideas are embraced and developed by the young talent entering the industry. This is all very much complemented by the professionalism and expertise of CICA’s members—many of which have also showcased their skills and talent in these pages—which will be central to delivering a bright future.

But, for now, here’s to 50 years of CICA—we look forward to reporting on another 50 years of forward-thinking ideas and innovation, which will only serve to enhance the sector and hopefully result in another successful 50 years.

Wyn Jenkins, managing editor, Captive International