TUCSON, ARIZ. ─ March 10, 2025 ─ At its annual International Conference today the Captive Insurance Companies Association (CICA) honored Paul Phillips, partner, Global Captive Network Tax & Strategy leader, Ernst & Young LLP (EY), with the CICA 2025 Distinguished Service Award, and Tenda, a member of the Ilitch Companies family of businesses, with the CICA 2025 Outstanding Captive Award.
The CICA Distinguished Service Award is presented annually, when appropriate, to a single individual or entity that has made a significant contribution to the captive insurance industry.
Paul Phillips has served the captive industry for over 30 years and been involved in over 1,000 captive formations. He was instrumental in launching EY’s Captive Insurance Team in 2012 and secured various Fortune 500 companies.
Phillips became interested in captive insurance early in his career in public accounting. He credits the exposure and experience in a different area of the insurance market as the start of a successful niche of professional service. He prides himself in building professional service teams to help non-financial people understand complex models. While focusing on more leadership roles in firm functions, the captive market space has always been his passion as he appreciates the consultative environment and the ability to add value.
Phillips has also spoken on panels, worked with lobbying foundations to educate legislators on insurance matters, and provided input into the 2002 revenue rulings that provided safe harbors to the captive industry. He has been named on the Captive Review Power 50 in each year since 2017 and was admitted into the Captive Insurance Industry Hall of Fame in 2024.
Upon receiving the award, Phillips said, “I am very honored and appreciative of the recognition. When I see the list of past recipients, I am humbled to be standing in their company.” He encourages new professionals to be a sponge, take time to develop skills, and enjoy the connections that the industry exposes you to.
The CICA Outstanding Captive Award is presented to a captive insurance company or risk retention group that has shown creative uses for a captive, been successful in managing the captive in terms of net results and usefulness to its owners, has prevailed over difficult times or situations and has gained acceptance, recognition, and a positive reputation among rating agencies, regulators and colleagues in the captive industry.
Captives are sought out for their flexibility, innovation, and problem-solving abilities. Tenda was created for those reasons. Tenda is a member of the Ilitch Companies family of businesses, headquartered in Detroit, MI. The Ilitch Companies include the Detroit Red Wings, the Detroit Tigers, and Little Caesars®, among other businesses. Tenda provides a range of insurance solutions, including health coverage, property and casualty coverage, and life insurance. Tenda is continuously expanding and enhancing coverage offerings for all of these sectors.
“Tenda has been successful over the last several years due to a strong and knowledgeable team, continuous strategic planning, innovation, and an unwavering commitment to excellence. We are committed to doing things the right way, the first time. This recognition from industry peers affirms our dedication to delivering exceptional value and advancing the industry through tailored and forward-thinking insurance solutions,” said Jennifer Allen, Director, Insurance & Risk Solutions at IFO Group, LLC.
After successfully addressing health insurance challenges, Tenda used the foundation as a scalable solution for family offices and privately held businesses where high-quality health coverage and other types of insurance are difficult to procure. Tenda is well-positioned for continued growth and success in the captive insurance industry.
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