Power 50: 50-31

After more than 10,000 votes and months of anticipation, here is the first instalment of the Captive Review Power 50. Check back tomorrow for the numbers 30-11.

#50 David Liptz, principal and partner, Liptz and Associates

Liptz has been CPA in the captive space for more than 25 years, with Liptz starting his own private practice in 1995. In recent years especially Liptz has become known for specialising in IRC 831(a) and IRC 831(b) services, and has represented captive clients before the IRS. Liptz has been outspoken about needing more guidance from the IRS in regards to micro-captives, and with the IRS’ recent statement that they will be targeting this area, may have a eventful year.

#49 Norman Chandler, president, Arsenal

As independent captive managers grow in popularity, companies like Arsenal are growing in influence in the industry. Founded in 2006, they have made a name for themselves in just short of 15 years, and president Chandler is pushing the company forward. As the president of the Alabama Captive Association, and a member of a number of other committees, Chandler is one of biggest names in the small captive space.

#48 Mikhail Raybshteyn, partner, EY

Deputy leader for EY’s American captive practice, Raybshteyn co-leads the practice and is an expert when it comes to captive tax matters. After advising captive owners and captive professionals of all types on all aspects of their domestic and international tax matters for over 15 years, Raybshteyn is a respected voice in the industry who is trusted for his expertise.

#47 Remy Massol, multinational director, Chubb

Paris-based Massol has more than 10 years of experience working with captive insurance companies, helping to structure their programmes and alternative risk transfer. Having also enjoyed a spell at AIG, Massol is widely respected throughout the community. He has now been with Chubb for more than seven years, where he works as multinational director of continental Europe.

#46 Renea Louie, vice-president, Pro Group

Smart and skilled, Louie is the vice-president of captive manager Pro Group, and is responsible for the day-to-day operations of the organisation. Well respected in the industry, Louie is a CICA board member as well as a regular speaker and commentator on industry issues.

#45 Robert Walling, principal and consulting actuary, Pinnacle Actuarial Services

With the scrutiny of captives in the US and Europe increasing drastically, Walling is proving to be an important voice within actuarial services. Not afraid to tackle industry challenges head on, Walling is increasingly respected by his peers and will continue to broaden his influence on the industry in the year ahead.

#44 Andrea Valacchi, director EMEA, Generali Employee Benefits

Generali is pushing forward in the new decade, and Valacchi is the best one to lead it as he knows the business better than anyone, having been with the company since 1988. An expert in employee benefits, Valacchi is extremely well placed to comment on the growth in the sector.

#43 Julie Bordo, president and general manager, PCH Mutual Insurance Co

Not only is Bordo the president and general manager of PCH Mutual Insurance Co, she’s also on the board of directors for the National Risk Retention Association, and one of the biggest voices in the RRG space in the US. A vocal supporter of insurtech as well, it looks like Bordo will only keep getting more prominent in the captive industry.

#42 Nuno Antunes, SVP, EMEA head of multinational, AIG

As SVP EMEA head of multinational, Antunes is working with some of the largest captive accounts in the world and is well known across the industry. After nearly four years in the role, Antunes is now a recognised leader on multinational programmes and is building an impressive portfolio.

#41 Steve Bauman, head of global programs and captive practice North America, AXA XL

Bauman is currently working as head of global programmes for AXA XL’s North America business. With more than 30 years of experience in captives and wider insurance, he returned to AXA XL following stints at Zurich and Aon, where he served as head of captive programmes and senior vice-president respectively. Bauman specialises in P&C with an emphasis on captives for large national and multinational businesses. He is also involved with a number of other organisations, including VCIA.

#40 Paul Corver, group head of M&A, R&Q

A known expert in the run-off business, Corver is responsible for all run-off acquisition activity at R&Q. He has ensured that the firm has tied up a number of deals around the globe over the past year, most recently the acquisition of Montana captive insurer Vigneron. Given the expectation of increased M&A activity in 2020, Corver may have a busy year.

#39 Adriana Scherzinger, head of international program business Latam, Zurich

Now having been in the role for over a year, Scherzinger has been leading the Zurich Latam team in the growing captive region. A former Captive Review One To Watch, Scherzinger is often at industry events and conferences, lending her expertise about not only Latam, but the captive industry in general.

#38 Steve H. Legg, director risk management, Olympic Casualty Insurance

As the director of risk management at Olympic Casualty Insurance, the captive of Starbucks, Legg has had a busy year. Last year Olympic Casualty challenged the $23.9m in taxes and fines that Washington State issued to the captive, and requested a hearing. In return Washington State called the captive, which is domiciled in Vermont, an “unauthorised insurer” and ordered it to stop insuring risk in Washington State. The outcome will be watched carefully by the entire industry, and Legg’s decision to stand up to a state is certainly influential. 2020 will be a big year for Legg, Olympic Casualty and any captive that writes policies in Washington State.

#37 Brian Quinn, founding director and chief underwriting officer, Granite

Regarded in the community as an employee benefits expert, Quinn provides influence and experience to multinationals planning to set up global captive programmes. With prior experience building General Motors’ employee benefits captive, Quinn is a trusted and well-respected expert in the business. With employee benefits only growing bigger and bigger, Quinn is sure to have a busy 2020.

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

As the group deputy director of risk management and insurance at International SOS, Baron is based in Singapore but travels often around the globe to have a truly worldwide view on the captive industry. Having previously worked for Marsh, Aon, AXA XL and FERMA, Baron knows the lay of the land. Not only that, Baron is the founding chairman of the Pan Asia Risk & Insurance Management Association (PARIMA), the Asian regional risk manager’s association, and considered one of the leading voices on captives in the Asia-Pacific region.

#35 Matthew McEwan, director of risk management, Coca-Cola

European-based McEwan has been a member of the captive industry for more than 20 years, having previously worked for a number companies before settling at Coca-Cola in 2011. He’s passionate about the industry, often giving up his free time to share his knowledge with fellow captive professionals and is an active member of Airmic.

#34 Daniel Kusaila, partner, Crowe Horwarth

US-based Kusaila has become a go-to partner for his tax expertise in the past few years. With the year ahead likely to be disruptive for captive domiciles in the US, especially considering the decisions being made by some regulators regarding tax, Kusaila is likely to be called upon for his knowledge and know-how even more. Outspoken and highly regarded by industry peers, Kusaila’s role will only increase in influence in 2020 and beyond.

#33 Angela Iannetta, group head risk and insurance, British American Tobacco

Having joined British American Tobacco (BAT) in 2014, Iannetta previously held roles with Aon, KMPG and was the director of group insurance at AstraZeneca. She now directs BAT’s global insurance strategy and is a regular presence at European captive events, giving back by sharing her knowledge and experience.

#32 Andrew Baillie, program director global insurance property, The AES Corporation

A global power company based in the US, The AES Corporation has assets in more than 20 countries. As program director Baillie has been responsible for a number of innovative decisions when it comes to its captive, particularly for terrorism and cyber coverage. Baillie is also regarded as a thinker in the industry, often leading discussions at conferences and winning awards.

#31 Steve McElhiney, chairman, CICA

The current chairman of CICA, McElhiney has a career spanning more than two decades in the insurance industry. In late 2019, Artex Risk Solutions acquired EWI Re where McElhiney was president. McElhiney has extensive experience in insurance company financial issues and reinsurance and catastrophe management, and run-off solutions. A former board chair of VCIA, McElhiney is a well-known and respected figure in the industry.