Airmic Guernsey conference puts captive growth, talent and strategy under the spotlight

The captive insurance market is entering a new phase; one in which growth is no longer simply about creating more captives, but about broadening their role in corporate risk management and ensuring the industry has the people and technology to support it.

That was a recurring theme during a forward-looking panel discussion on the future of captives at the Airmic Guernsey Conference, held at St Pierre Park Hotel, Guernsey, on 22 September, during which over 200 risk professionals met to explore the theme of Resilience by design: navigating complexity in 2026 and beyond.

The industry has moved a long way from its niche origins, delegates heard, but the next stage could be even more transformative. “Only now, I think, are we seeing and understanding the true power of captives to act as a really important tool for corporations,” commented Neil Campbell, consultant at SRS Europe.

Captives are increasingly being viewed as strategic risk-management tools rather than simply vehicles for funding deductibles or filling gaps in commercial insurance programmes, delegates heard.

Advocating the role of “captive-centric” strategies, where the captive participates across every line of business, Campbell added: “We start to see how companies can move away from the deeply unsatisfactory annual insurance cycle. Risk managers can stabilise budget, and they can start to incubate new risks.”

Global connectivity driving talent

Succession was a prevalent theme, in particular the importance of passing on essential technical knowledge to the next generation.

“Every person entering the captive industry right now, you are entering at an amazing time, when captives are such an important part of the risk management environment,” said Will Thomas-Ferrand, global leader of captive solutions at Marsh.

Greater connectivity is already helping to widen the industry's talent pipeline, with more interaction between professionals across jurisdictions and growing investment in apprenticeships and entry-level talent, according to John Rowson, managing director at Howden.

However, risk professionals increasingly need to understand corporate finance, data and analytics if they want to become more closely integrated into wider corporate decision-making, warned Campbell: “The boundaries between enterprise risk management, business resilience and insurance are blurring. That trend will continue, but if you carry on just buying annual insurance, then you'll risk becoming irrelevant.”