NCCIA Updates Strategic Plan, Elects New Leadership

Per the latest North Carolina Captive Insurance Association (NCCIA) newsletter update, the NCCIA Board of Directors met in Durham January 16–17 to update its strategic plan for the first time since 2015. A scheduled revision in 2020 was postponed due to the pandemic.

Board Chairman Ron Adams said the original strategic goals—focused on establishing North Carolina as a leading captive domicile—have been achieved. "North Carolina's growth to the third largest captive domicile after Vermont and Utah indicates that the growth goal has largely been met." Details on the updated plan will be shared after the NCCIA Annual Conference, set for May 14–17.

The board elected Lea Riddle of McGriff Insurance as chairman. He will assume the role, along with newly elected officers, at the Annual Conference. Andy Rennick of Womble Bond Dickinson was elected vice chair, Scott Bailey of Carr Riggs & Ingram was re-elected treasurer, and Paige Bell of Lockton was named secretary. All were elected by acclamation.

Elected to 3-year board terms were Tia Jones of R-H CPAs and Michael Arcangel of Strategic Risk Solutions. Ms. Bell was also elected to a full term after completing a 1-year partial term.

Early bird registration for the 2025 NCCIA Annual Conference in Charlotte is now open. NCCIA President and CEO Tom Adams said early interest in registration and sponsorships has been unprecedented, citing a strong 2024 for captives, a hardening market, North Carolina's increasing prominence as a domicile, and the re-election of Commissioner Mike Causey.

According to Lori Gorman, deputy commissioner for captives at the North Carolina Department of Insurance, the state added 33 new captives and 49 protected cells in 2024. North Carolina now has 771 active cells, with 44 additional cells and 9 captives pending. The state also gained six new captive managers last year.