Top 20 Captive Owners 2023

We reveal which captive owners were voted the best by their fellow peers in our Power 50 survey

 

Last month we revealed which captive industry professionals made it into our Power 50, Hall of Fame and Ones to Watch lists, and now it’s the turn of the captive owners.

Over 7,800 people responded to our Power 50 survey and below are the 20 captive owners that received the most votes from their industry peers:

(list in alphabetical order)

 

David Arick, assistant treasurer, global risk management, International Paper Company

After a long association with RIMS and championing the use of captives among its membership, David Arick has been increasingly taking senior roles with the trade body, joining the board of directors in 2019, then serving as the society’s secretary in 2021, treasurer in 2022 and vice-president in 2023. He has worked in insurance and risk management since 1989, and has been with International Paper since June 2004.

 

Andrew Baillie, programme director global insurance property, The AES Corporation

Andrew Baillie is now coming up to 17 years with The AES Corporation, a global power company based in the US with assets in over 20 countries. In that time, Baillie has developed a number of innovative captive solutions, particularly in the fi elds of cyber and terrorism coverage, and earned himself a reputation as a leader in the captive space among his peers.

 

Cheryl Baker, head of North American risk management, Stellantis

After winning the 2022 captive risk manager of the year award at our US Awards last August for her work with Blue Cross Blue Shield of Michigan, Cheryl Baker accepted the role of head of North American risk management at global car manufacturing giant Stellantis just a couple of months later. Baker is a popular figure, giving back much of her time as a board member of CICA and an executive committee member of the Amplify Women initiative.

 

Franck Baron, group deputy director risk management and insurance, International SOS

A leader in the Asia Pacific risk management community, Franck Baron founded PARIMA and, as chairperson, has taken it from a handful of risk professionals to an organisation with close to 2,700 members in 22 Asia Pacific countries. Baron will end his 10-year tenure in December 2023 and remain as an active executive board member looking after international affairs thereafter. He also become president of IFRIMA at the start of this year.

 

Andreas Brugel, director of reinsurance, Delvag Versicherungs-AG

Our 2022 captive risk manager of the year at the Captive Review European Awards, Andreas Brugel is highly respected among his peers for the job he has done managing the inwards and outwards reinsurance of Lufthansa’s captive during very challenging circumstances. Brugel joined Delvag in September 2014 and since then has climbed the ranks, becoming director of reinsurance in February 2020.

 

Andrew Clarke, general manager, ITX Re, Inditex

Andrew Clarke has been the general manager of ITX Re for over 10 years and in that time has developed an expertise in writing a diverse range of business from property and casualty to employee benefits. Based in Dublin, Clarke’s experience in the insurance industry includes time at Allianz, Volkswagen and Probus, as well as six years as an insurance manager for Aon, managing a number of direct writing and reinsurance captives.

 

Heiko Ditzel, senior director of risk finance and transfer, Adidas

Heiko Ditzel has now spent over 12 years at Adidas after starting in the industry with Allianz in 2001 as a consultant. He stepped up into his current role in 2016 and was also made non-executive director of Adidas’ Ireland-domiciled captive, Adidas International Re, in 2018.

 

Colin Donovan, president, STICO Mutual Insurance Company

STICO Mutual Insurance Company is a risk retention group that was formed in 1988, owned and directed by storage tank fabricators, pressure vessel manufacturers and petroleum equipment contractors. Donovan started with the organisation in 1998. Now in his 25th year with the risk retention group, he was appointed president in 2015 and also joined the CICA board of directors in 2019.

 

Deyna Feng, director, captive programmes, Cummins Inc

Deyna Feng joined Cummins as a regional risk manager in 2010 before moving to the US four-and-a-half years later to manage the group’s captive. She was promoted to director of the motor manufacturer’s captive programmes in December 2018, and has also been on CICA’s board of directors since March 2019.

 

Tracy Hassett, president and CEO, edHEALTH

As well as being president and CEO of edHEALTH, Tracy Hassett is also president and CEO of Educators Health Exchange, edHEALTH’s medical stop-loss captive. In October last year, she was named the new board chair of the Vermont Captive Insurance Association, having been on the board of directors since September 2019.

 

Karen Hsi, interim executive director of captive programmes, University of California

Karen Hsi has long been considered one of the brightest young stars in the industry and, since April last year, has been serving as interim executive director of the University of California’s captive programmes. Having managed a large and complex captive in fiat lux for the university since 2016, Hsi is now an experienced and knowledgeable captive owner – knowledge she shares through her role with CICA’s NextGen and Amplify Women committees.

 

Udo Kappes, head of insurance, RWE

Through his roles as chairman of ECIROA and board member of CICA, Udo Kappes remains one of the biggest European advocates for captive insurance. After 21 years with Airbus, tackling the challenges faced in the aviation industry, Kappes moved to energy fi rm RWE last year, allowing him to expand his expertise even further.

 

Holger Kraus, head of insurance, Siemens

After joining Siemens in 2009 as head of risk financing and strategy, Holger Kraus stepped up this year to become head of insurance. Kraus is a familiar face at captive events, which is why, in 2016, he became head of the German Risk and Insurance Managers’ Association.

 

Janaize Markland, director of business risk and insurance, Meta

Janaize Markland joined Facebook and Instagram owner Meta in April 2020 after almost 20 years managing the risk of Pacific Gas & Electric Company. Markland is one of the most innovative captive owners in the market and was the first to take advantage of a change in Delaware’s law, which allowed Side A directors and officers’ coverage to be written into a captive.

 

Gail Newman, vice-president of risk management, Bright Horizons

Gail Newman has been with Bright Horizons, a global education and childcare organisation, for nearly six years, having previously worked at Zipcar. Prior to this, his sectors of expertise have included the government/defence, business advisory/ consulting services, energy, wellness, as well as technology and mobility industries.

 

Laurent Nihoul, general manager and group head of insurance, ArcelorMittal

Working at one of the world’s leading steel and mining companies with over 160,000 employees in more than 60 companies poses a lot of challenges for Laurent Nihoul. He has been widely praised for how he meets these challenges when running ArcelorMittal’s worldwide insurance team.

 

Julien Rouaud, corporate insurance risk manager, Agfa-Gevaert Group

Brussels-based Julien Rouaud has been responsible for global insurance programmes at Agfa since 2018 and has also been a board member of BELRIM, the Belgian risk management association, for the last three years. A well-known figure in the European market, Rouaud’s background includes time in captive solutions and alternative risk transfer for Marsh and Aon.

 

Theresa Severson, vice-president of insurance and risk, Kite Realty Group

Theresa Severson joined Kite Realty Group in October 2021 and, in that short time, has already earned high praise from the industry for how she has managed the group’s captive programme. Kite Realty won the CICA 2023 Outstanding Captive Award, and Severson’s 20+ years of insurance experience was pivotal to this.

 

Philippe Vienot, head of corporate insurance, BNP Paribas

As risk manager and head of corporate insurance for BNP Paribas, Philippe Vienot is director of four of the group’s reinsurance captives. He has developed a strong captive strategy for the group over the last 14 years, and before that spent time at AIG and Marsh.

 

Daniele Zucchi, managing director, Sigurd Ruck AG

After starting with Sigurd Ruck, the captive of global oil and gas group Saipem, as chief operations officer in 2010, Zucchi has been managing director there for the last 10 years, with control of one of the most significant European captive operations. He also co-founded the Swiss Insurance and Reinsurance Captive Association in 2015.

12 August 2024
5-6 November 2025

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