The captive insurance industry is recording ‘new levels of growth’, says the Captive Insurance Companies Association (CICA).
The remarks were part of the opening keynote of CICA’s international conference, held at the Westin Kierland Resort & Spa.
“We are seeing tremendous growth in the captive industry and we are seeing that reflected in CICA’s growing membership community,” said CICA President Dan Towle. CICA reports a 20 per cent increase in this year’s memberships to 560 members.
Towle said he has experienced the excitement about this global industry growth first-hand in his travels with captive colleagues in the US and Luxembourg, Japan and the Cayman Islands.
“This is truly an incredible time for the captive industry and one that should be recognised and appreciated,” Towle emphasised.
CICA board chair Nick Hentges, added: “A growing market needs top talent. That is why I am especially pleased with CICA’s continued growth of our NEXTGen and Amplify Women initiatives, and our Essay Contest.”
Hentges cited CICA’s commitment to creating more opportunities for women at the CICA Conference. “We are proud to share that 46 per cent of our speakers at this year’s conference are women. Unfortunately, many insurance conferences are often less than 30 per cent.”
The 2024 CICA International Conference runs from 10 to 12 March, with 35 education sessions and a lineup of more than 120 industry professionals.
