The Captive Owners Power 50 list recognises the 20 most influential captive owners in the industry.
Power 50: Captive Owners 2022
Lance Abbott, President and CEO, BevCap Management
Abbott is not only the president and CEO of BevCap but was also elected to the Captive Insurance Companies’ Association (CICA) board of directors in 2016 and then president in 2020. Abbott has founded a number of group captives including Arizona-domiciled Independent Innovative Captive Insurance Companies (IICIC) and Quality Check’d Insurance Companies.
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.
Cheryl Baker, Risk Manager, Blue Cross Blue Shield Michigan
A risk manager at Blue Cross Blue Shield (BCBS), Baker started her career in insurance at Marsh before moving over BCBS in 2012. Once there she helped set up their first captive, seeing the process from the ground up. Now she’s been with the organisation for a decade, and has become an active member of the captive community.
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.
Courtney Claflin, Executive Director of Captive Insurance Programs, University of California
As executive director of the University of California’s captives program, Claflin’s role includes the development, implementation and management of all the university’s captives and captive activities. He’s also a well-known friendly face in the captive industry, often lending his voice to panels and happy to help anyone and everyone.
Phil Clark, Director of Insurance, Vodafone Group
With Vodafone since 1994, Clark has been running Vodafone’s insurance operations since 2008. As director of insurance Clark is responsible for everything from Vodafone’s global insurance strategy, as well as all general, employee benefits, pension and consumer insurance. He is also a member of Airmic, often sharing his knowledge with the captive community.
Heiko Ditzel, Senior Director of Risk Finance and Transfer, Adidas
After starting in the insurance industry in 2001 with Allianz, Ditzel then worked as a consultant before joining Adidas in 2010. In 2016 he stepped into the role of director of risk finance and transfer, before being appointed non-executive director of Adidas’ Ireland-domiciled captive adidas International Re in 2018.
Colin Donovan, President, SITCO Mutual Insurance Company
A member-owned RRG SITCO Mutual was formed in 1988, with Donovan starting with the organisation in 1998. With a wealth of experience across all areas of SITCO Mutual, he was appointed President in 2015 and then appointed to the CICA board of directors in 2019. Despite some difficult years for SITCO Mutual Donovan has worked hard to make it a successful RRG, and is definitely succeeding.
Laurence Eeckman, Vice President of Group Risk Management, AB Electrolux
Eeckman is a well-known figure in the European captive industry, heading up Elextrolux’s risk management group. With two large captives, one domiciled in Vermont and one in Sweden, she has an in-depth knowledge of captives. In 2021 she was elected to the board of FERMA, sharing her insights with the industry and helping to support it.
Deyna Feng, Captive Program Manager, Cummins
Feng is the program director for Cummins’ captive program, running their single parent captive and running off programs for three offshore group captives. Having been based in Beijing for four-and-a-half years and responsible for regional risk management in Asia Pacific prior to taking on her current role, Feng also has a view to the industry in that region. Feng is a leading voice in the worldwide captive community, chairing the RIMS International Council in 2019 and being appointed to the board of CICA.
Chris Gallagher, Senior Director of Insurance and Risk Management, Proctor & Gamble Company
Senior director of insurance and risk management of Proctor & Gamble, one of the top 50 largest countries in the world, Gallagher is also the director and officer for the company’s two captive insurance companies. With more than 30 years’ experience he leads the company’s global property and casualty risk and insurance, claims management, captive insurance operations, worldwide employee benefits and risk financing. Gallagher is valued by his colleagues and is an active contributor in numerous professional risk and insurance management organisations, insurance company conferences and advisory boards.
Karen Hsi, Program Director of Fiat Lux Captive, University of California
One of the brightest young stars in the captive industry, Hsi is program manager of the University of California’s captive Fiat Lux. With the size of the University of California—10 university campuses, five academic health systems, and three national laboratories—the captive program she manages is very large and very complex. Hsi has managed this with excellence, all while speaking at conferences, writing articles, and volunteering her time with CICA’s Amplify Women and NextGen committees.
Niklas Huyeng, Senior Manager of Insurance, Tesla
Formerly working for Marsh in both China and Hong Kong Huyeng took up a role with Tesla’s insurance division in Amsterdam in 2018, before being promoted to lead the team in 2020. In late 2021 Tesla formed its first captive, domiciled in Hawaii. The largest electric vehicle maker in the world, Tesla is planning on massively expanding their insurance program in coming years and Huyeng will undoubtedly be focusing even more on captives.
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.
Udo Kappes, Head of Propety/Casualty and Reinsurance, AirBus
After a couple of tricky years for European captive owners and manager, Kappes has ensured that captives continue to make their case. Whether it’s tackling Beps or solving Solvency II requirements, as Chairmain of ECIROA Kappes has been in discussions with the European authorities on behalf of the captive industry. With AirBus he has also tackled the changes in the aviation industry and responded quickly, using his years of experience in risk management and captives.
Holger Kraus, Head of Risk Financing and Strategy, Siemans AG
Kraus has been with Siemans since 2009, and been the CEO of Sieman’s German-domiciled captive RISICOM Ruckversicherung AG. He has always been active in the captive community and was appointed the head of the captive community of the German Risk and Insurance Managers’ Association in 2016. In 2020 he became head of risk financing and insurance at Siemans, bringing his decades of experience to the role.
Jennifer Pack, Vice President for Risk Management, Hyatt Hotels
Over the last year the Hyatt has experienced disruption, and Pack has lead its risk management team to success in these difficult times. At Hyatt Hotels since 2007, Pack knows her team and the company’s captive well, with a well-established program able to react to changes in the market. She manages and is president of Hyatt’s Arizona-domiciled captive, Xenia Assurance Company, while overseeing all risk management functions at Hyatt. A director of the RIMS Chicago chapter, Pack also often shares her insights with her peers.
Theresa Severson, Vice President of Insurance and Risk Management, Kite Realty Group
President of the Chicago chapter of RIMs, Severson is a prominent face in the US captive industry. After spending 13 years with RPAI Holdco Management in 2021 she moved to Kite Realty Group to become their vice president of insurance and risk management. After building RPAI’s insurance and captive program it looks like a lot more captive activity should be expected at Kite Realty.
Maria Sheffield, President, Caterpillar Financial Insurance Services
Now president of Caterpillar Financial Insurance Services, Sheffield previously spent time working as a captive program manager for the State of Missouri, and prior to that a decade in private practice specialising in insurance. This means she has a broad background of skills and knowledge about the industry, which she has brought to her current role.
Tobias Winkler, Senior Director of Aviation, Marine and Reinsurance, Delvag Group
Winkler was appointed to his current role—which includes responsibility for all of Lufthansa’s captive program, its underwriting functions, aviation and marine teams—in 2020. With years of experience in the insurance industry, both within and outside the Delvag group, Winkler took on the role in the middle of a pandemic that hugely impacted the travel industry. Despite the difficulties Winkler has performed extraordinarily well and is deeply respected by his colleague