Captive Review US Award winners announced

The Captive Review US Awards have been handed out, showcasing the incredible talent in the US captive community.

Usually given out at a lavish dinner in Vermont, the awards this year were held virtually. A new format, but still recognising the gold standard across the captive industry.

The Outstanding Contribution award was given to Joel Chansky from Milliman, former chair of the Captive Insurance Companies Association (CICA) and longtime captive expert.

Three new awards were introduced for 2020 – Captive Innovation, Next Gen Initiative and Underwriting Solution of the Year – which all drew a host of strong entries.

Arsenal scored three awards, one for Captive Manager – less than $1bn gross premium, another Software Solution. Their third win was for Next Gen Initiative, alongside Alabama Captive Insurance Association and Troy University, for their Risky Business program.

Beecher Carlson scored two awards, with Pete Kranz named Captive Service Professional of the Year and the firm also winning Captive Manager of the Year – more than $1bn gross premium.

The awards are judged independently, with experts from across the industry analysing entries and picking the cream of the crop.

Full list of winners below:


Category: Outstanding Contribution Award

Winner: Joel Chansky, Milliman


Category: Actuarial Firm

Winner: Milliman

Judge’s comment: “Milliman’s focus on mid to large captive companies contributes to its knowledge of captive issues which are germane to this industry group.”


Category: Audit and Accounting Firm

Winner: Johnson Lambert LLP

Judge’s comment: “Johnson Lambert demonstrated a thorough depth of expertise and commitment to the industry. Their references spoke volumes to addressing specific client concerns.”


Category: Captive Consultant of the Year

Winner: Pro Group Captive Management Services

Judge’s comment: “ProGroup’s focus on captive owner and captive board member education and governance is sorely needed in the captive industry and can be very comforting to those entrusted with the management of the captive. The constant monitoring of service providers and online capabilities are extremely helpful.”


Category: Captive Innovation

Winner: Trion Group, a Marsh & McLennan Agency

Judge’s comment: “Trion seems most committed to be truly innovative in an ever-changing market.”


Category: Captive Manager of the Year – less than $1bn gross premium

Winner: Arsenal

Judge’s comment: “Arsenal shows lots of growth in all aspects the past 12 months, including more offices and staffs, more broker networks and customers, some great initiatives and innovations, and great customer feedbacks.”


Category: Captive Manager of the Year – more than $1bn gross premium

Winner: Beecher Carlson

Judge’s comment: “Beecher is the clear winner, providing innovative solutions and a customer focus.”


Category: Captive Risk Manager of the Year

Winner: Heather McClure – Academic Physicians Insurance Company (OU Medicine Hospitals and Physicians)

Judge’s comment: “Heather should be highly commended for her work making captives responsive to the challenges of the global pandemic. Her work as described is not about money, but about people.”


Category: Captive Service Professional of the Year

Winner: Pete Kranz – Beecher Carlson

Judge’s comment: “Pete is quite knowledgeable and experienced. Now he is leading their company’s captive team, providing more creative/innovative captive solutions to their customers with strong commitment.”


Category: Collateral Specialist

Winner: Wilmington Trust

Judge’s comment: “Wilmington Trust was the most impressive entry in this category.”


Category: Domicile of the Year – less than $5bn gross premium

Winner: North Carolina

Judge’s comment: “North Carolina’s focus on low frictional costs combined with a high degree of regulatory compliance for risk financing is a valuable asset to risk managers, captive managers and owners seeking to partner with their regulators in best managing their captives to serve value for their firms.”


Category: Domicile of the Year – more than $5bn gross premium

Winner: Vermont

Judge’s comment: “Vermont introduced several new enhancements this year including allowing flexibility to insure unaffiliated business.”


Category: Emerging Talent – Service Professional

Winner: Mikhail Raybshteyn – EY

Judge’s comment: “Mikhail has been devoting himself to captive industry. He has provided good customer services utilizing their company resources in difficult pandemic environment. EY has broad customer base with his new partner position to influence more.”


Category: Employee Benefits Network

Winner: MAXIS Global Benefits Network

Judge’s comment: “Great client testimonials and performance for what is an extremely complex but growing area.”


Category: Fronting Partner

Winner: Generali

Judge’s comment: “Generali allows 100% of premium to be ceded to captives which offers numerous benefit to corporate captive programs. As large as the company has become, they continue to innovate and bring new products to market to better serve the captive industry.”


Category: Investment Specialist

Winner: Madison Scottsdale

Judge’s comment: “Madison Scottsdale seems most in tune with being part of a team of service providers.”


Category: Law Firm

Winner: Dickinson Wright

Judge’s comment: “Dickinson’s submission seemed to have the edge for the work done in Florida (new domicile) and TN (established and growing domicile), as well as offering very enthusiastic testimonials.”


Category: Legacy Solutions

Winner: R&Q

Judge’s comment: “With the legacy market growing, R&Q showed that they have a range of solutions for captive parent organisations.”


Category: Next Gen Initiative

Winner: Risky Business – Alabama Captive Insurance Association, Arsenal & Troy University

Judge’s comment: “Risky Business’s comprehensive focus on providing a wide breadth of experience to students will help them understand the variety of opportunities in the field. Engagement, support and networking with real life practitioners is so valuable.”


Category: Software Solution

Winner: Arsenal – JMRT

Judge’s comment: “I am impressed that JMRT was built ‘in -house’ yet is considered so user friendly.”


Category: Tax Advisory Firm

Winner: Bauknight Pietras & Stormer

Judge’s comment: “I chose Bauknight Pietras & Stormer as #1 given their commitment to captive industry, their team of experienced professionals and the wide range of risks they are able to effectively manage on behalf of their clients.”


Category: TPA of the Year

Winner: Gallagher Bassett

Judge’s comment: “Gallagher Basset proved that they are dedicated to their clients and have sophisticated solutions.”


Category: Underwriting Solution of the Year

Winner: AXA XL

Judge’s comment: “Creativity in partnering with a client to dissect their risk exposure, and build a program that provided multi-trigger coverage is so valuable in this turbulent market.”

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