Continuing our countdown of the most influential professionals in the captive insurance market today, we reveal who made the top 30 in the 2025 Power 50

After revealing yesterday who ranked from 50-31 in the 2025 Power 50, today we continue our countdown of the most influential captive insurance professionals, with those who ranked from 30-11!

As you will have already discovered, there have been significant movements and changes on last year’s Power 50, with 12 names making their debut, and five faces from previous rankings returning. This year’s Power 50 is composed of 31 men and 19 women, marking very slight progress towards gender parity, set against 18 women in last year’s rankings, but clearly there is still a long way to go.

By geography, there are 29 professionals based in the US, 12 from Europe and nine from Bermuda and Cayman. While the change on last year’s rankings is again slight, Europe’s representation is up from 10 professionals in 2024, illustrating the growing prominence of captive insurance in this part of the world.

Come back tomorrow when we finalise our rankings by revealing who made the top ten of the 2025 Power 50.

We will also tomorrow be revealing the new inductees to the Hall of Fame, and those that are our Ones to Watch. All this will be available in our dedicated Captive Review 2025 Power 50 publication, also released tomorrow, alongside video interviews and thought leadership articles from some of those that were voted the most influential professionals in the captive insurance industry.

30. Amy O’Brien (DOWN 1), Vice president – carrier practice sales, Gallagher Bassett

O’Brien has more than 30 years of experience in claims management and today leads new business development for captives and programmes at Gallagher Bassett. She serves as the sales liaison to the captive programme manager, insureds, carrier and other stakeholders and oversees the financial aspects of the property/casualty claims programme, including proposal process, pricing, contract and overall service. Based in the Chicago area, O’Brien has for several years been a key leader within CICA and is currently on its Amplify Women Committee and Conference Programming Committee. Last year she was also inducted into Captive International’s inaugural list of influential women in the industry.

Nominator quote: “Incredible teamwork and collaboration amongst this group! They are all conscientious and dedicated to GB’s captive clients.”

29. Matt Takamine (UP 4), Executive managing director – captive practice leader, Brown & Brown

Since Hawaii-based Takamine took over leading Brown & Brown’s captive practice in 2022, the captive manager has gone from strength to strength. This resulted in Brown & Brown being named Captive Manager of the Year at both Captive Review’s and Captive International’s 2024 US awards, with Takamine winning the individual award at the latter. With more than 16 years at the firm, he has been instrumental in shaping Hawaii’s captive insurance landscape. His leadership extends to his long-standing role on the board of the Hawaii Captive Insurance Council, previously serving as president twice and board chair. He currently serves the council as government relations liaison. 

Nominator quote: “Matthew Takamine is extremely knowledgeable in captive set-up and management. His expertise, demeanour and personality are perfect for the two clients I have introduced him to.”

28. Steve Kinion (UP 9), Captive insurance director, Oklahoma Insurance Department

Kinion’s return to the Oklahoma Insurance Department in 2022 to lead its captive division has coincided with a revitalisation in the state as a captive domicile. With the reboot of the state’s captive insurance association and the formation of new captives and management firms, the state was one of the fastest growing in last year’s World Domicile Update, and much of this can be put down to confidence fellow professionals have in Kinion. The state was rewarded with being named Domicile of the Year (Less than $5bn GWP) at the 2024 Captive Review US Awards. Kinion’s experience and vocal advocacy for the 831(b) industry during a challenging period is further evidence of his value to captive insurance.

Nominator quote: “He was Delaware’s captive insurance director, making it one of the world’s top five domiciles. In Oklahoma he is gradually and steadily building that domicile and bringing it to prominence.”

27. Oliver Schofield (DOWN 1), CEO and managing partner, RISCS CWC

With nearly 40 years of insurance and captive insurance industry experience, Schofield has been instrumental in advising clients on the establishment and management of captive insurance companies for a long time. Growing RISCS CWC organically and through acquisition, Schofield has built one of the industry’s most respected captive consultancies – recognised by RISCS CWC winning Captive Consultant of the Year at the 2024 European Captive Review Awards. Schofield’s commitment to innovation and excellence continues to influence the captive insurance landscape, also leading Principal Re Limited’s captive and alternative risk transfer team and serving as a member of the Labuan International Insurance Association’s captive sub-committee. 

Nominator quote: “Oliver’s passion for the captive industry is unparalleled. He is active in training and sharing the value of alternative risk financing with insurance practitioners, as well existing and future clients.”

26. Phil Giles (UP 4), Chief growth officer, Skyward Accident & Health

Highly regarded by clients with medical stop-loss captive programmes, Giles has been sought after by firms for his vast experience in this sector. He landed at Skyward Specialty last year where he oversees the growth and expansion initiatives for its accident and health division and the structure and development of group and single-parent stop-loss captives. With more than three decades in the insurance industry, Giles has held senior roles at MSL Captive Solutions, QBE and Artex, focusing on medical stop-loss and alternative risk financing. His expertise lies in developing innovative strategies that address the evolving needs of employers in managing healthcare costs.

Nominator quote: “Our firm began working with Phillip Giles about a decade ago, and we have consistently regarded him as one of the industry’s leading captive practitioners.”

25. Michelle Sivanayson (UP 6), Managing director – Islands practice leader, Marsh Captive Solutions

Sivanayson jumps up six places into the top 25 after a year in which the world’s largest captive manager Marsh doubled down on the offshore region. Sivanayson’s role oversees Marsh’s captive operations in Bermuda, the Cayman Islands and Barbados. Developments in these regions last year for Marsh included the launch of cyber group captive Edgware Re in Bermuda, and a new Mangrove cell facility in Cayman. Leading this vitally important region for the world’s largest captive manager since 2023 makes Sivanayson highly influential. She first joined Marsh in 2004, and besides her current role has held various other leadership roles, including global operations leader for captives, where she managed teams across Canada, Poland and India.

Nominator quote: “Michelle demonstrates a clear vision for the future and inspires others to work towards it. She actively supports and empowers team members to reach their full potential.”

24. Anjanette Fowler (UP 4), Managing director, insurance and specialised industries group, PNC

Fowler has led PNC’s dedicated captive investment practice for the past four years, coordinating the development and delivery of strategic investment solutions, supporting client relationship needs and participating in client and industry education. With almost 30 years of insurance company-focused investment management experience, she is one of a handful of revered people in this sector of the market – her leadership helped PNC win Investment Specialist of the Year at the 2024 Captive Review US Awards. She is admired for giving back to the industry and serving as a mentor to the younger generations in her company and across the industry. Fowler is known for regularly attending and speaking at captive insurance events and volunteering her time by sitting on industry boards. Based in Phoenix, Arizona, she has served as a director on the Arizona Captive Insurance Association board, and currently serves on the CICA board, having formerly chaired its Amplify Women committee that supports elevating, educating, and providing networking opportunities for women in the captive industry.

Nominator quote: “Anjanette is one of the strongest female leaders we have and someone that others look up to.”

23. Paul Macey (UP 4), President, USA Risk Group

Macey leads USA Risk Group’s fast-growing captive practice and is one of the most experienced and respected leaders in Cayman. Macey joined USA Risk Group in 2005 as a senior vice president and in July 2009 was promoted to president of its Cayman office. In 2019 he led a management buyout of the company and was appointed president. Macey has taken USA Risk to be the fifth largest manager in Cayman – managing 63 captives as of 31 March 2025. A strong year was recognised with USA Risk winning Captive Management Firm of the Year and Macey winning individual Captive Manager of the Year at Captive International’s 2024 Cayman Awards. 

Nominator quote: “Paul is a leader in Cayman and has built USA Risk back as a major player in captive management.”

22. Dr Leena Johns (RETURN), Chief health and wellness officer, MAXIS Global Benefits Network

Dr Johns returns to the Power 50 after another strong year for MAXIS GBN as it picked up awards for employee benefits at both Captive Review’s US and European Awards in 2024. These came as MAXIS GBN added several healthcare partnerships to its network to widen and diversify its employee benefits offering. As its head of health and wellness, Dr Johns is responsible for global healthcare claims and analytics and wellness. A former ER physician, Dr Johns has worked across the world, from the Middle East to the US, and is at the forefront of innovation in the employee benefits space. 

Nominator quote: “The person driving forward innovation and excellence at MAXIS.”

21. Brian McNamara (DOWN 3), Head of multinational North America and Global Captive Solutions, Allianz Commercial

One of the most experienced leaders in Bermuda’s captive market, McNamara has spent more than three decades in the insurance industry. A former senior vice president of AIG Global Risk Solutions in Bermuda, he joined Allianz in December 2019 and was appointed head of global fronting in February 2020, then head of captive solutions in July 2022. In addition to that role, he was later appointed head of North America multinational in November 2022. McNamara’s experience in fronting arrangements is prized by clients, which include risk managers with some of the largest captive programmes in the world.

Nominator quote: “We always find Brian a pleasure to work with because he so clearly knows his field.”

20. Grainne Richmond (UP 2), Executive vice president – head of captives, Aon

Richmond moves into the top 20 of the Power 50 as one of the most prominent champions of Bermuda as a domicile. She has more than two decades of experience in the insurance and risk management industry and has led Aon’s Bermuda captives operation since September 2022, after moving from SRS. Along with her position at one of Bermuda’s largest captive managers, she has held leading roles in trade organisations promoting Bermuda. She currently serves as the deputy chair of the Bermuda Business Development Agency and, being on the strategy team of the Bermuda Captive Network, is now taking greater steps to increase engagement with Bermuda’s captive professionals. One of Bermuda’s strongest leaders, she was last year named one of Captive International’s Influential Women in captive insurance. 

Nominator quote: “Grainne Richmond is exceptionally knowledgeable and dedicated, contributing greatly to making Bermuda a leading captive domicile.”

19. Mike Meehan (UP 1), Principal, Milliman

An industry professional with more than 30 years of experience, Boston-based Meehan climbs to number 19 on the Power 50 reflecting his leadership of Milliman, which retained its Actuarial Firm of the Year award at the 2024 Captive Review US Awards. Meehan is a great captive advocate and regularly shares his views on important captive insurance matters – both in writing and through speaking slots at the many captive insurance events he attends. Meehan has served on both the boards and committees and various captive domicile associations, as well as CICA, where he currently sits on the CICA programme committee.

Nominator quote: “Mike’s dedication to the captive sector is unmatched, as is his willingness to support those learning their way.”

18. Rob Walling (RETURN), Principal and consulting actuary, Pinnacle Actuarial Resources

Walling makes his return to the Power 50 for being one of the foremost actuarial experts in the captive sector, in addition to his long and influential leadership after 35 years in the captive industry. Walling’s captive insurance experience includes more than 22 years at Pinnacle Actuarial Resources. Across his career, Walling has provided strategic consulting services to more than 20 state insurance departments and government insurance programmes. He has been the appointed actuary and/or loss reserve specialist for scores of domestic and international insurance companies, RRGs, captive insurance companies and self-insurance programmes. For many years, Walling has also been regularly called upon to provide expert testimony on all salient matters facing captive insurance companies. Increasingly and importantly in the current market, he has been a go-to resource for expert testimony for those captives making an 831(b) election. He is a widely acknowledged authority on existing and evolving IRS regulations impacting captives and through presentations, articles and interviews, Rob has helped scores of captive owners better understand the evolving regulatory landscape for captives. He has also been a volunteer member or leader at captive-focused and other property and casualty organizations, including as a board member of the Casualty Actuarial Society (CAS). 

Nominator quote: “Rob is a sought-after speaker and is widely regarded as a subject matter expert on numerous actuarial, risk management and commercial insurance matters.”

17. Renea Louie (UP 4), CEO, Sotera Global Management

Louie has moved up to number 17 on the Power 50 after a major transition to take greater control of the rebranded captive practice she has worked on for two decades, as CEO. Highly connected within the industry, she now has oversight of underwriting, risk management, client relations and regulatory compliance. Additionally, she is a prominent attendee and speaker at captive conferences and last year was named one of Captive International’s Influential Women in captive insurance. She has served two terms on the ICCIE board, remaining active on its marketing committee, and has held key roles with CICA, RIMS, SIIA, and various state captive associations. Formerly a director serving two terms and chairman of CICA, she currently chairs the Western Region Conference.

Nominator quote: “Renea Louie’s blend of operational mastery, industry leadership, educational impact, and strategic foresight makes her a standout figure in the captive insurance world.”

16. Bob Gagliardi (RETURN), Head of captive management, AIG

Vermont-based Gagliardi returns to the Power 50 after a strong 2024 in which AIG was responsible for the formation of three new captives in Vermont. Gagliardi takes charge of captive formations, feasibility studies and development of AIG’s sponsored captives. In addition to serving existing clients, he manages the marketing and formation of new captives and has formed captives in numerous domiciles. Gagliardi serves on the Board of more than 20 captives and is a frequent speaker at industry conferences. He was part of the team that contributed to AIG winning Underwriting Solution of the Year at the 2024 Captive Review US Awards, and has also previously been recognised individually, winning the VCIA’s industry service award in 2023.

Nominator quote: “A key figure in Vermont, and a big part of AIG’s success as a manager.”

15. David Gibbons (DOWN 1), Partner, PwC Bermuda

A consistent member of the Power 50, and an honouree in Captive Review’s 25 at 25 list last year, Gibbons maintains his high placing as the long-time head of PwC Bermuda’s dedicated captive insurance group, working with some of the largest captive accounts in the world. Gibbons is a contributor to captive industry thought leadership, news articles, podcasts, videos, PoV and reports on key industry topics, including the annual Captive Review Bermuda Report. He is a past chair of the Bermuda Captive Conference and, in his role as a captive leader and regional human capital leader, he is also a champion for diversity and inclusion and developing a new generation of talent in the captive industry. 

Nominator quote: “David is a frequently sought-after commentator on captive topics and innovation.”

14. Heather McClure (RETURN), Managing partner and general counsel, Helio Risk

McClure returns to the Captive Review Power 50 in the elevated position of 14 as the new captive management firm she co-founded in 2023 continues to expand and go from strength to strength. McClure has been able to leverage her broad base of connections from a 25+ year career that has included time as chief risk adviser for the national healthcare practice at Aon, and as chief risk officer at the University of Oklahoma’s health system. A previous Captive Review Risk Manager of the Year, McClure was last year named one of Captive International’s Influential Women in Captive Insurance and is the current board chair of CICA.

Nominator quote: “Her strategic guidance and depth of industry knowledge have provided us with confidence and clarity, allowing us to navigate the complexities of risk management with assurance.”

13. Steve Bauman (UP 2), Global programmes and captives director, Americas, AXA XL

One of the captive industry’s most recognisable and well-connected leaders in the captive fronting sector, Bauman moves up to number 13. His role includes the marketing, development and governance of global captive programmes for one of the world’s largest insurance groups. He took up his current position when re-joining XL Catlin in May 2017, and remained in the role when the company was acquired by AXA in 2018. He has more than 30 years of experience in captives and the wider insurance market, including more than 10 years as head of captive services at Zurich North America. His experience extends to the management and broking side, having also spent time in his career working at Aon and Marsh. 

Nominator quote: “Steve stands out for being one of the best, most knowledgeable there is in the captive fronting sector, able to lead and support innovation.”

12. Suzanne Sadlier (UP 5), Executive vice president – captive management, North America, Artex Risk Solutions

Sadlier is one of the best-connected professionals in the fast-growing Cayman captive market thanks to her seven years at the Cayman Islands Monetary Authority. Since joining one of Cayman’s largest captive managers, Artex – with 88 international insurance companies under management as of 31 March 2025 – her influence in the market has only grown. She now sits in one of three key leadership positions with responsibility for captive management services, renewals, risk management services and client stewardship in the domiciles of Bermuda, Cayman, Hawaii, Vermont and South Carolina. As Artex seeks to grow its onshore presence, Sadlier is becoming an increasingly influential figure in both offshore and onshore markets, and was last year recognised by Captive International as an Influential Woman in Captive Insurance.

Nominator quote: “Suzanne shows a passion for client service that has made her an excellent addition to Artex’s leadership.”

11. Michael Serricchio (DOWN 5), US & Canada regional leader, Marsh Captive Solutions

Serricchio maintains his high placing in the Power 50 following a reshuffle in the leadership at Marsh that sees him take on a new regional leadership role. As one of the key faces at Marsh Captive Solutions, the largest captive manager in the world, Serricchio has considerable influence over the management of a great number of captives, including some of the world’s largest. As such, Serricchio is highly trusted in the market for his skill and knowledge. In 20 years at Marsh Captive Solutions, Serricchio has held several roles of increasing responsibility, gaining experience assisting clients in the US and globally with the feasibility and organisation of single-parent captives, as well as risk retention groups and cell captives.

Nominator quote: “Mike’s dedicated and superlative team leadership helps make and keep Marsh Captives number one in the industry.”