George Town, Grand Cayman, August 9, 2024 – We are delighted to showcase several women based in Cayman who were recently highlighted in Captive International’s Influential Women in Captive Insurance issue.
To continue the conversation on the professional experiences of women in our industry, this year at Cayman Captive Forum, we will be featuring a new panel on Women in Insurance. Moderated by Alanna Trundle, the panel is set to feature:
- Kara Ebanks, Head of Insurance Division, CIMA
- Faith Dube – Deputy COO, Nassau Re (Cayman), a subsidiary of Nassau Financial Group
- Lisa Marecki – SVP, Head of Alternative Markets Claims, Arch
To hear this panel and experience the full Cayman Captive Forum, register today at https://web.cvent.com/event/93625375-594b-44aa-b06d-e9464f312c37/summary
Below are some highlights from the Captive International issue.
Erin Brosnihan
President, Kensington Management Group
How did you get started in the captive insurance industry?
“In 1999 I moved to the Cayman Islands, as a newly qualified Chartered Accountant, into the insurance practice of PwC. I worked with a manager named Charlie Bolland, who remains a friend to this day. He brought me onto his Kensington Management Group engagements. I was intrigued by the model and moved over to Kensington as captive manager in 2001 and never looked back.”
Kara Ebanks
Head of division of the Insurance Supervision Division, Cayman Islands Monetary Authority
Who inspired you or acted as a mentor in your career?
“To narrow my influencers to just one person would be difficult as I seek to learn something new from everyone who crosses my path. The captive insurance industry is supported by an array of knowledgeable service providers and regulators, all of whom will offer their support at the drop of a dime, including some incredible women.
I’d like to especially mention the managing director of the Cayman Islands Monetary Authority—Cindy Scotland, who has been exceptionally supportive of me during my career.”
Jenny Pooley
Managing director and CEO, Strategic Risk Solutions (Cayman)
What challenges are gender-specific to women in the captives industry?
“Progress has been made but generally women are still under-represented in leadership positions within the industry, with social and cultural factors contributing to this. Like many industries, more senior roles often involve business travel which can deter some women with family responsibilities.”
Suzanne Sadlier
EVP, captive management North America, Artex Risk Solutions
What do you think deters people from entering the world of captives?
“There is still a lack of awareness of the depths/variety of career opportunities available in the insurance industry, including in captives. I don’t believe it’s a case of people lining up the possibility of working in the captives industry as compared to other options and then deciding not to pursue it—the issue is it’s not always prominent enough to be part of the selection process in the first place.
We have a responsibility to promote the sector through educational connections—a great example is the work of the ICCIE—and also for example through attending career fairs and engaging with students to share what makes it such a rewarding career path.”
Lesley Thompson
Managing Director, Captive & Insurance Management Solutions, WTW (Cayman)
How can mentorship and sponsorship programmes be designed to better support the career development of women?
“Since I joined the industry 25 years ago, the number of women in the industry has grown significantly, particularly in senior roles, but there is still more needed. Mentorship in particular has historically not been widespread with women on either side of the mentor/mentee relationship, so it is important that senior women embrace mentorship and sponsorship programmes in order to further open opportunities for the next generation.
Programmes focused on the next generation and women leaders are particularly important, especially when supported by your organisation.”
Alanna Trundle
President, Global Captive Management
In what ways can companies in the sector create a more inclusive culture that actively promotes gender diversity at all levels?
“It’s very important that decision-makers at all levels, whether it be interview panels or promotion decisions, be made up of a diverse set of people. We all have unconscious bias and the only way to counter this is to have a diverse set of people and opinions helping to make these key decisions.
HR policies are key to creating an inclusive culture whether that be equal pay, flexible working hours, childcare subsidies, or ample parental leave.”
The Insurance Managers Association of Cayman (IMAC) represents the international insurance industry in the Cayman Islands. IMAC liaises with government and the regulator on the industry’s behalf and promotes innovation and international competitiveness to maintain Cayman’s advantageous market position. The Cayman Islands is the second largest domicile in the world for captives and a dominant jurisdiction for healthcare captives, group captives, catastrophe bonds and international reinsurance.