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.
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
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.
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
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
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
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.
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.
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.
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
17 / 03 / 2019
Chief Investment Officer, Builders Insurance Holdings
Bertrand discusses the investment strategies of Builders Insurance Holdings, the collection of Luxembourg captives owned by German construction company Hochtief. Bertrand also discusses asset management under Solvency II and why more captives should take a more hands on and pro-active approach to managing money.
Bertrand’s interview begins at: 15.05