Robert ‘Skip’ Myers received a standing ovation as he picked up the award for Outstanding Contribution by an Individual at the US Captive Review Awards 2017, in Burlington, Vermont, on the evening of Monday, 7 August.
Hosted at the Hilton, Burlington, there were thirty-one categories on the night – from Captive Management and Fronting to Law Firm and US Domicile of the Year.
Beecher Carlson, Willis Towers Watson, AIG, JLT Insurance Management and USA Risk Group were among the firms to pick up two awards.
Aon took home Cell Company Initiative, while Nancy Gray also picked up the New Captive Formation award on behalf of Aon client, Butler University Student-Run Captive.
The full list of winners and the judges comments are below. An extended write-up and all the pictures from the evening will feature in the September edition of Captive Review.
Category: CPA Firm
Winner: EY LLP
Judges comments: EY demonstrated an intrinsic knowledge and understanding of the complex and evolving needs of captive insurance companies and their owners. The judges were impressed by EY’s clear commitment to the industry and their willingness to engage with the wider community and provide valued thought leadership.
Category: (Re)Insurance Company
Winner: XL Catlin
Judges comments: Through a detailed case study, XL Catlin demonstrated their all-round service proposition to clients and their ability to identify and execute the correct solution for the client. The judges also noted their increased investment and commitment to the captive industry – both in the US and abroad.
Category: Subrogation Specialist
Winner: North American Subrogation
Judges comments: North American Subrogation remains the key service provider for captives and managers keen to get their subrogation operations right. The judges were impressed by the firm’s recognition of captive potential in this under-used area and their commitment to raising awareness and servicing it properly.
Category: Risk Consulting Initiative
Winner: Beecher Carlson
Judges comments: The judges were impressed by the range of risk consulting projects completed in the 12-month period. Beecher Carlson also demonstrated significant development of their integrated captive strategies and have proved to be a valuable consultant, as well as day-to-day manager.
Category: Captive Management – Enterprise Risk Captives
Winner: Atlas Insurance Management
Judges comments: Atlas impressed the judges with their on- and offshore footprint and diverse client base. The firm’s experience, coupled with a desire to continue innovating and evolve its client offerings was noted as particularly important as uncertainty continues to reign in the enterprise risk captive arena.
Highly Commended: MIJS Captive Management, LLC
Category: Technology Initiative
Winner: CHSI Technologies
Judges comments: The firm’s commitment to the captive insurance industry, as well as its ability to tailor solutions and deliver customer care impressed the judges. The submission also detailed its recent product development and transparency when working with prospective captive clients.
Highly Commended: Advanced Enterprise Technologies, Inc.
Category: Rising Star
Winner: Monica Ferreira, The Risk Authority Stanford
Judges comments: Monica has shown strong career development at The Risk Authority Stanford, gaining significant experience in forming both a cell company and a reciprocal risk retention group and taking on responsibility for the underwriting process for Professional Exchange Assurance Company (PEAC). Partner service providers speak highly of Monica’s abilities and curiosity, and she has demonstrated deep knowledge of all aspects of captive operations.
Category: Employee Benefits Fronting Network
Winner: MAXIS Global Benefits Network
Judges comments: The judges were impressed by MAXIS’ continued investment in the captive arena and its obvious desire to lead the way on benefits fronting in the United States and beyond. The Network’s clear commitment to providing robust data management, insight and analytics to captive owners was particularly noted.
Category: Collateral Service Provider
Winner: Comerica Bank
Judges comments: The full suite of collateral options provided by Comerica impressed the judges, while its detailed understanding of the captive industry and its needs were also noted. The time and investment made in its dedicated captive practice has produced a customer-friendly approach for prospective and existing clients.
Highly Commended: Wilmington Trust
Category: Non-US Captive Domicile
Judges comments: Bermuda continues to evidence its heavyweight position in the captive industry and has the technical insurance infrastructure rarely rivalled anywhere in the world. The judges commented that while strong growth continues to come from the insurance-linked securities and (re)insurance sectors, the domicile remains committed to its impressive base of almost 800 captives.
Category: Cell Company Initiative
Judges comments: Aon’s early and continued commitment to cell solutions has resulted in the most comprehensive suite of cell services available to insured’s. The judges noted Aon’s geographical and market spread of cell options, providing flexibility to clients.
Category: Captive Innovation Award
Winner: JLT Insurance Management
Judges comments: JLT’s proven commitment and execution of innovative problem solving was well supported by excellent testimonials from several clients. The submission explained in-depth JLT’s Captive Centric approach and how it is being applied, with success, to its diverse client base.
Highly Commended: Pro Group Captive Management Services
Category: Run-off Specialist
Judges comments: The judges were impressed by R&Q’s track record and consistent deal flow. The firm has a strong knowledge base and experience of the various run-off transactional options open to clients – from full acquisition and novations to loss portfolio transfers and commutations. R&Q continues to lead the charge in run-off solutions in an increasingly crowded market.
Category: Captive Management – RRGs
Winner: USA Risk Group
Judges comments: USA Risk detailed its strong history and experience in the RRG formation and management business and cited strong case studies and testimonials from clients. The judges noted the firm’s clear commitment to creating efficiencies in the management process and desire to deliver consistent customer care.
Category: Captive Professional
Winner: Phillip C. Giles, QBE North America
Judges comments: Phil Giles has delivered consistent and impressive growth since joining QBE North America and made himself a go-to resource in the medical stop-loss arena. While well-known to the captive community and keen to share his expertise and resources for the benefit of others, Phil was also recognised within QBE as a ‘Global Top 10 Employee’ in 2016.
Category: Employee Benefits Consultant
Winner: Willis Towers Watson
Judges comments: The judges were impressed by the impressive range of employee benefits solutions delivered by Willis Towers Watson in the last 12 months. While adding significant new business during the 12 months, the firm has not neglected its existing client base – working to improve data management systems and the underwriting process for employee benefits captives.
Highly Commended: Trion Group, a March & McLennan Agency, LLC company
Category: Investment Management
Winner: UBS Financial Services
Judges comments: The judges were impressed with the asset management approach outlined by UBS and its long-term commitment to the captive insurance industry. The firm also detailed its globally integrated risk management system and the forward-looking approach impressed the judges too.
Category: Captive Management – Group Captives
Judges comments: The judges were impressed by the Artex approach and commitment to managing group captives. The experience gained from managing large and complex group programmes over a number of years, and its close collaboration with a diverse broker network, makes Artex a strong player in this valued segment of the captive industry.
Category: Law Firm
Winner: McDermott Will & Emery
Judges comments: McDermott Will & Emery’s varied legal practice ensures captive clients can go to the firm on a range of issues – from claims and tax to regulatory and transactional. The judges were impressed by the firm’s impressive book of case work and deep understanding of the captive sector.
Category: Fronting Partner
Judges comments: AIG clearly evidenced its impressive fronting practice across a range of sectors and highlighted numerous case studies. The carrier has enjoyed good growth in its fronting business and the judges were impressed by its global capabilities and willingness to problem solve.
Category: Innovative use of an ART Structure
Winner: Beecher Carlson
Judges comments: The judges were impressed by Beecher Carlson’s commitment to thinking outside the box and particularly noted its embrace and encouragement of multi-line and multi-year aggregates. The submission clearly articulated one such example and the savings and efficiency it produced for the client.
Category: Actuarial Firm
Winner: Spring Consulting Group
Judges comments: Spring’s diverse actuarial skills were noted by the judges, who were also impressed by the range of case studies highlighted in the submission. The actuarial experience built up over many years is evidenced by an impressive client book and the firm’s dedicated to captives to clear.
Category: Captive Healthcare Specialist
Winner: Willis Towers Watson
Judges comments: The judges were impressed by Willis Towers Watson’s understanding and deep involvement in the healthcare sector – a uniquely challenging environment always, let alone in 2017. The detailed and well thought-out submission demonstrated their ability to provide solutions to the healthcare industry, both through utilising their own skills and working in partnership with third parties and closely consulting regulators.
Category: Industry Advocate
Winner: Vermont Captive Insurance Association
Judges comments: VCIA has made itself an invaluable industry advocate, not just for Vermont but the broader US marketplace as well. The Association continues to take up the fight on domestic and international issues and the education opportunities it provides to members and non-members throughout the year makes it one of the busiest non-profit captive organisations in the world.
Category: Captive Tax Specialist
Winner: Honigman Miller Schwartz and Cohn LLP
Judges comments: Steeped in captive experience, the judges were impressed by Honigman’s large book of business and the range of domiciles it works in, both on- and offshore. Its dedicated captive practice proves its commitment to the sector and is able to deliver guidance on a range of state, federal and international issues.
Category: Global Programme Initiative
Judges comments: The judges noted AIG’s global capabilities and track record in delivering complex solutions to some of the largest companies in the world. The carrier, with its broking partners, has implemented a new collaborative operating framework for managing clients’ global programmes aiding contract certainty and improving efficiencies.
Category: New Captive Formation
Winner: Butler University Student-Run Captive
Judges comments: The Butler Student-Run Captive has been a high-profile success story for the captive industry and will likely prove a valuable project for the future of the risk and insurance industry. The initiative, while serving an internal need for the University, has provided invaluable experience to a group of students who are already moving on to sophisticated first jobs in the captive sector.
Category: Captive Manager of the Year – Independent
Winner: USA Risk Group
Judges comments: USA Risk’s diverse book of captive business demonstrates its experience and understanding of the captive industry. The judges were impressed by its ability to provide innovative solutions to clients and its commitment to customer care. USA Risk also remains a leader in providing thought leadership and are keen to aid the wider industry as it evolves.
Category: US Captive Domicile
Winner: State of Vermont
Judges comments: Vermont’s continues to impress the judges and wider community with its desire not to stand still and rest on its laurels as America’s largest captive domicile. It remains a trend setter, with numerous domiciles following its lead on introducing a ‘dormant’ status for captives, and the judges noted the impressive experience of its regulatory department.
Category: Captive Manager of the Year
Winner: JLT Insurance Management
Judges comments: The judges were impressed by the high quality of case studies and testimonials provided by JLT Insurance Management. The firm demonstrated a strong commitment to contribute to the wider industry, while its multiple domicile reach and diverse product offering were also noted. JLT effectively communicated how its growing and experienced captive consulting team can address each client’s unique needs and produce a solution tailored for them.
Category: Outstanding Contribution by an Individual
Winner: Robert ‘Skip’ Myers
Judges comments: The industry panel recognised Skip’s significant and sustained contribution to North America’s captive insurance industry. A generous contributor of time and expertise to associations as well as clients, Skip has been a key figure in shaping the legal direction of the captive and risk retention group world for more than three decades. Key pieces of legislation carrying Skip’s fingerprints include Liability Risk Retention Act of 1986 and the Terrorism Risk Insurance Act in 2002. He is a truly deserving winner of this prestigious award.