11 November 2019Analysis

CICA and HCIC to promote captives in Tokyo

The Captive Insurance Companies Association (CICA) will partner with the Hawaii Captive Insurance Council (HCIC) for a series of educational seminars in Tokyo on November 19-20.

The move comes as CICA looks to broaden its international focus. It has also been looking at opportunities for collaboration with the Pan Asia Risk and Insurance Management Association.

Dan Towle and Steve McElhiney, the president and board chair, respectively, at CICA, will speak at both sessions.

Towle said: “Japan has a healthy insurance market, with a growing interest in and use of captives. As companies in Japan increase their focus on risk management and risk financing it is natural to look at ways to use a captive to manage risks more effectively and with more controls.”

HCIC has also been working with Japanese corporates interesting in setting up their own captives, and with captive owners interested in expanding their scope, said Paul Simomoto, director and marketing committee chair at HCIC.