SCOTTSDALE, ARIZ. – March 11, 2024 – Growth was front and center at the opening general session of the Captive Insurance Companies Association (CICA) 2024 International Conference today at the Westin Kierland Resort & Spa.

“We are seeing tremendous growth in the captive industry and we’re seeing that reflected in CICA’s growing membership community,” CICA President Dan Towle said. “Last year we reported record CICA membership and this year we set another new record with 560 members, a 20% increase,” Towle explained.

This growth has carried over to CICA’s International Conference with a record 659 attendees. This includes 24% captive owners and representatives from 44 states and 43 offshore or international domiciles.

Towle said he has experienced the excitement about this global industry growth first-hand in his travels with captive colleagues in the US and Luxembourg, Japan and the Cayman Islands. “This truly is an incredible time for the captive industry and one that should be recognized and appreciated,” Towle emphasized.

CICA Board Chair Nick Hentges, CEO, Captive Resources, LLC, said “A growing market needs top talent. That’s why I am especially pleased with CICA’s continued growth of our NEXTGen and Amplify Women™ initiatives, and our Essay Contest. CICA has created a groundswell that is helping to move the captive industry forward. We have an opportunity to not only lead the captive industry but be a leading example for the entire insurance industry.”

Hentges cited CICA’s commitment to creating more opportunities for women and young professionals to have speaking roles at the CICA Conference to showcase their expertise. “We are proud to share that 46% of our speakers at this year’s conference are women! Unfortunately, many insurance conferences often are less than 30%,” Hentges explained.

The 2024 CICA International Conference runs through March 12 with 35 education sessions and a diverse lineup of over 120 industry experts covering a wide array of timely topics, and networking events. CICA Awards and CICA Essay Contest winners were also announced during the general session.