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GCP CAPTIVE
OWNERS

To understand the true benefits and challenges related to a well-run captive insurance company, hearing directly from those who own and run them is key. Since the Global Captive Podcast was launched in March 2019, we have featured interviews with more than 40 captive owners. 

 

The subjects vary from the largest multinational corporations owning multiple captives writing life and non-life insurance, to members of group captives and risk retention groups writing just a few lines of cover. The captive owners also discuss how they are approaching a volatile insurance market, how they achieve internal support for the captive and what future uses they envisage for the captive. 

 

Every captive owner interview is listed below, including the time stamp of where their interview begins in the episode.

Andrew Baillie

30 / 08 / 2020

Program Director for Global Insurance, AES Corporation

Andrew explains how the Fortune 500 utilities company utilises its single parent captive in Vermont and the role it plays in its international insurance programmes.

Andrew's interview begins at: 8.14

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Mary Ellen Moriarty

16 / 08 / 2020

Vice President for Property & Casualty and Student Insurance Programs, EIIA

Mary Ellen discusses the size and profile of the EIIA’s insurance procurement that includes an association captive and risk retention group, both domiciled in Vermont. She also expands upon how reinsurance diversification has provided a greater level of options in the hard market.

Mary Ellen’s interview begins at: 7.10

Laurent Nihoul

16 / 08 / 2020

Group Head of Insurance, ArcelorMittal

Laurent guest co-hosts the episode and talks extensively about how the multinational steel and mining giant utilises its captive. He also discusses developments regarding Solvency II and the OECD’s Beps project in his capacity as a FERMA board member.

Laurent features throughout the episode.

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Heather McClure

09 / 08 / 2020

Chief Risk Officer, OU Medicine

Heather and Deyna Feng, of Cummins, join a discussion with Vermont regulator David Provost to share their experiences of how working productively with their regulators has produced a beneficial relationship and aided captive operations.

Heather and Deyna feature throughout the episode

Colin Donovan

02 / 08 / 2020

President, STICO Mutual Insurance RRG

Colin joins Scott Mildrum, Economic & Macro Strategist at Performa and Richard to preview the Economic Landscape and Your Captive Investment Portfolio panel they presented at the VCIA annual conference. Colin discusses the STICO risk profile and its approach to investment management.

The discussion featuring Colin begins at: 16.00

Andrew Falk

19 / 07 / 2020

Senior Vice President of Asset Management, SL Green Realty

Andrew discusses how the Manhattan-based real estate investment trust utilises its captives in New York and Vermont. He also explains why they have used the captives to access the Federal Home Loan Bank and the disruption caused by the FHFA ban on captive membership.

Andrew’s interview begins at: 10.30

Laura Langone

19 / 07 / 2020

Head of Insurance Operations, Airbnb

Laura, who is also President of RIMS for 2020, is guest co-host of the episode and discusses her experience with captives, the hardening market and RIMS' position on the Pandemic Risk Insurance Act currently progressing through Congress.

Laura features throughout the episode.

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Michael Laperche

12 / 07 / 2020

Vice President of Risk Management, PRIDE Industries

Michael joins a roundtable discussion with Jason Flaxbeard, of Beecher Carlson, and Courtney Claflin, at University of California, to discuss defining risk appetite and captive retentions in a hardening market.

Michael, Courtney and Jason feature throughout the episode.

Jim Leimkuhler

21 / 06 / 2020

CEO, Progressive Produce

Progressive Produce is a member of the Cayman-domiciled group captive Raffles Insurance and Jim explains how his organisation has benefited widely from a 16-year membership.

Jim’s interview begins at: 9.10

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Lisa Coomber

14 / 06 / 2020

Senior Group Insurance Manager, Vodafone

Lisa joins a discussion with Karen Jenner and Joseph Finbow at TMF on captive structures and the often invisible costs that are insurance premium taxes and other levies. This discussion should be particularly helpful to anyone involved with the design, implementation or management of global insurance programmes.

Lisa features throughout the episode.

Fredrik Finnman

07 / 06 / 2020

Head of Group Risk Management, Sandvik

Fredrik returns to the pod to discuss the insurance implications of the pandemic, the regulatory environment for captives in Sweden, the hardening market and how Sandvik utilised its captive.

Fredrik’s interview begins at: 12.15

Jen Blair

24 / 05 / 2020

Global Risk and Insurance Manager, Bose

Jen explains why the privately-owned audio giant established a Bermuda captive in 2018 and the company's risk financing and captive strategy more broadly.

Jen’s interview begins at: 4.55

Scott Feltham

10 / 05 / 2020

Group Insurance Manager, Compass Group PLC

Scott explains how Compass Group PLC, a FTSE 30 company and largest foodservice provider in the world, approaches insurance procurement and uses its captive and how the hard market is increasing the value of the captive.

Scott’s interview begins at: 6.53

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Julie Bordo

26 / 04 / 2020

President, PCH Mutual Insurance Company, a RRG

Julie discusses how risk retention group serves its members that work in the care sector across the United States, as well as her own views and approach to governance and embracing new technology in insurance management.

Julie’s interview begins at: 8.34

Franck Baron

12 / 04 / 2020

Group Deputy Director Risk Management & Insurance at International SOS

Franck, also Chairman of PARIMA, Asia's risk and insurance management association, highlights how International SOS has had to respond to COVID-19 and how its captive has been utilised in a hardening market, as well as explaining why captives are still struggling to become mainstream in the region.

Franck’s interview begins at: 9.28

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Shruti Vyas

29 / 03 / 2020

Insurance Specialist and Captive Manager, SES Satellites

Shruti discusses how she moved from engineering into insurance management, the satellite company’s insurance and captive strategy and how the captive has supported them through a hardening market.

Shruti’s interview begins at: 22.20

Ange Chitate

15 / 03 / 2020

COO and Interim CEO, African Risk Capacity (ARC)

Ange Chitate, COO and Interim CEO of African Risk Capacity (ARC) Insurance Company Limited, and Malvern Chirume, Chief Underwriting Officer at ARC Insurance Company Limited, discuss the innovative Class 3 Bermuda insurer that insures natural catastrophe risks for countries across the continent.

Ange and Malvern’s interview begins at: 10.43

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Gert Cruywagen

01 / 03 / 2020

Director of Risk, Tsogo Sun Group

Johannesburg-based Gert discusses the hospitality company’s sophisticated captive domiciled in the Isle of Man. Gert is also the current President of the International Federation of Risk and Insurance Management Associations (IFRIMA) and addresses the risk and insurance culture in South Africa.

Gert’s interview begins at: 11.40

Francois Beaume

08 / 12 / 2019

VP of Risk and Insurance, Sonepar

Francois discusses the captive landscape and environment in France, as well as his role on captive activities at French risk management association AMRAE.

Francois’ interview begins at: 8.10

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Phil Clark

24 / 11 / 2019

Director of Insurance, Vodafone

Phil talks through the Malta captive's journey and some of the 18 lines it writes for the telecommunications giant today. He also shares advice for captive owners encountering the hardening market.

Phil’s interview begins at: 7.10

Steve McElhiney

10 / 11 / 2019

President, Tall Pines Insurance Company of Vermont

Steve addresses a unique captive and reinsurance brokerage structure and how Tall Pines has grown in sophistication over the years. Tall Pines is a subsidiary of NL Industries, an industrial and chemical conglomerate.

Steve’s interview begins at: 8.23

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Krystle Blystone

27 / 10 / 2019

Senior Operations – Insurance, Cargill

Krystle outlines the expansive captive programmes, including international employee benefits, used by Cargill, one of the largest privately-owned companies in the world.

Krystle’s interview begins at: 19.20

Paul Smith

13 / 10 / 2019

Director of Insurance, FirstGroup America

Paul discusses the history of the transportation company's Vermont captive and how it is utilised to support the business.

Paul’s interview begins at: 10.30

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Santiago Gomez

29 / 09 / 2019

CFO, KOT Insurance

Santiago outlines the profile of one of Switzerland’s largest captive reinsurers – KOT Insurance. The captive is owned by the Mexico state-owned oil and gas giant PEMEX and is primarily used to access global reinsurance markets.

Santiago’s interview begins at: 5.08

Sean Barnes

15 / 09 / 2019

CFO, United Educators

Sean discusses the asset management approach of Vermont-domiciled group captive United Educators. He also outlines the history and profile of the captive and how they use their asset management partners.

Sean’s interview begins at: 9.40

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Melissa Hollingsworth

01 / 09 / 2019

Director of Risk Management & Insurance, Jim Ellis Automotive Dealerships

Melissa outlines the cell captive structured used by the Atlanta-based automotive dealership. The captive is domiciled in Washington DC and writes various lines of coverage.

Melissa’s interview begins at: 11.54

Janice Klodowski

18 / 08 / 2019

Vice President at Agri Services Agency

Speaking to Richard at the VCIA 2019 conference, Janice explains how the sponsored captive owned by Dairy Farmers of America is utilised to write several lines of coverage and to drive risk management standards for its members across the United States.

Janice’s interview begins at: 5.50

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Tony Benedetto

04 / 08 / 2019

CEO, NASW Assurance Services

Tony discusses the structure and purpose of the captive reinsurer and risk retention group that are owned by the National Association of Social Workers. Both captives are domiciled in Washington DC, and Tony also discusses how they are used to the benefit of members.

Tony’s interview begins at: 8.14

Andrew Koegel

21 / 07 / 2019

Global Head of Corporate Insurance, Hartmann Group

When Andrew joined Richard for a chat, he was in the process of forming a captive for German medical equipment company Hartmann Group. Andrew explained the process they were going through in order to rationalise and form a captive in Malta.

Andrew’s interview begins at: 8.20

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Daniele Zucchi

07 / 07 / 2019

Managing Director, Sigurd Ruck

Daniele Zucchi outlines how the Switzerland-domiciled reinsurance captive is utilised by Italian oil and gas contractor Saipem. He also explains the Swiss regulatory environment for captives and how the local captive association works with FINMA.

Daniele’s interview begins at: 4.45

Karen Hsi

23 / 06 / 2019

Program Manager - Fiat Lux Risk & Insurance Company

Karen is joined by Dan Towle, President of CICA, and Ian Davis, formerly Director of Financial Services at the State of Vermont's Department of Economic Development, to discuss the next generation of captive professionals and career development.

The discussion including Karen begins at: 23.40

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Bill Fitzpatrick

09 / 06 / 2019

Vice President of Corporate Risk Benefits, Deutsche Post DHL

Bill details the huge employee benefits programme financed by the DHL captive in Bermuda and the advantages it provides the company and its employees. Bill also charts the history and evolution of the employee benefits programme.

Bill’s interview begins at: 22.45

Judy Ertel

26 / 05 / 2019

Managing Director – Global Risks, Cummins, Inc

Judy Ertel is joined by colleages Mikey Davidson and Deyna Feng from the Cummins risk & insurance team, to outline their expansive captive programme and how they achieve substantial buy-in from across the Fortune 500 company to drive new ideas for captive utilisation.

The Cummins interview begins at: 16.05

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Courtney Claflin

12 / 05 / 2019

Executive Director - Captive Programmes, University of California

Courtney Claflin and Karen Hsi, Program Manager - Fiat Lux Risk & Insurance Company at UC, discuss how the university system’s multiple captives are used and plans for the future.

Courtney and Karen’s interview begins at: 19.40

Mark Gould

28 / 04 / 2019

CEO of Gould Construction, Inc

Hear first-hand the benefits of group captive membership from Mark Gould, CEO of Gould Construction, who is also joined by Nick Hentges, co-CEO of Captive Resources.

The discussion with Mark and Nick begins at: 9.45

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Heather McClure

14 / 04 / 2019

Chief Risk Officer, OU Medicine

Heather McClure, who oversees the operation of the University of Oklahoma’s Vermont captive and is CRO for their medical centre, OU Medicine, discusses the captive’s history, evolution and what it is used for today.

Heather’s interview begins at: 6.50