The Captive Insurance Companies Association (CICA) has handed out two awards for contributions to the captive insurance industry at its conference in Arizona.
Energy Insurance Services (EIS) was awarded the outstanding captive award, while the European Captive Insurance and Reinsurance Owners’ Association (ECIROA) won the distinguished service award.
The outstanding captive award is presented to captive insurance companies or risk retention groups that show creative uses for a captive, have prevailed over difficult times, and have gained acceptance, recognition, and a positive reputation among rating agencies, regulators and colleagues in the captive industry.
Tommy Bolton, CFO at EIS, commented: “Receiving this prestigious award is confirmation that the concept of innovative, flexible and prescribed solutions, such as those provided by captive insurance, must form an essential part of any company's insurance and risk mitigation strategy."
“CICA has long been a leader in identifying and sharing groundbreaking concepts designed to effectively and efficiently manage risk.”
He added: “EIS and its members are pleased to be recognized by CICA and hope to continue the tradition highlighted in the 2018 CICA conference theme of embracing and meeting the 'challenge of change’.”
The distinguished service award is presented to a single individual or entity that has made a significant contribution to the captive insurance industry.
According to CIA, from its early days, ECIROA reached out to CIA to discuss collaborating on efforts to protect the captive industry, and its lobbying efforts were essential in protecting the captive insurance community in the Solvency II discussions.
Udo Kappes, chairman of ECIROA, said: “ECIROA is very appreciative of this award. We are fully committed to continue with the work we have done so far to support the best interest of all captives, but especially to our members which have given us their direct mandate as global players in industry, commerce, trade and finance.”
