CICA 2024 Conference: Record Growth Signals Industry Boom

The Captive Insurance Companies Association (CICA) kicked off its international conference at the Westin Kierland Resort & Spa, highlighting remarkable growth within the captive industry.

During the opening general session, CICA President Dan Towle announced a 20 percent increase in the organization's membership, underscoring the industry's significant expansion.

"We are seeing tremendous growth in the captive industry, and we're seeing that reflected in CICA's growing membership community," Mr. Towle said. "Last year, we reported record CICA membership, and this year, we set another new record with 560 members."

Mr. Towle, who has witnessed this global industry growth firsthand in his travels to the United States, Luxembourg, Japan, and the Cayman Islands, said, "This truly is an incredible time for the captive industry and one that should be recognized and appreciated."

CICA Board Chair Nick Hentges, CEO of Captive Resources, LLC, emphasized the need for top talent in a growing market. "That's why I am especially pleased with CICA's continued growth of our NEXTGen and Amplify Women™ initiatives and our essay contest," Mr. Hentges said. "We have an opportunity to not only lead the captive industry but be a leading example for the entire insurance industry."

Mr. Hentges revealed that 46 percent of this year's conference speakers are women, a notable achievement in an industry where gender representation often lags behind. "Unfortunately, many insurance conferences often are less than 30 percent," Mr. Hentges explained.

By providing speaking opportunities, CICA aims to showcase the expertise of women and young professionals. With a track record of breaking records and promoting inclusivity, CICA believes it is positioned to influence the future of the captive insurance industry.

Pictured above, CICA Board Chair Nick Hentges, CEO, Captive Resources, LLC. (Photo courtesy of CICA and used with permission.)