Captives veteran Derek Millar to retire

Veteran captive insurance executive Derek Millar has announced he will be retiring as chief executive officer of the Catholic National Mutual at the end of the year. 

Millar, who worked in the captive insurance industry in Bermuda and Guernsey for almost 25 years, said in a post on LinkedIn that his full 38 year career in insurance had “in some ways gone in a flash”. 

Millar’s career began in 1986 with RSA (then Sun Alliance) and he also worked for Sun Bank in Stevenage as insurance manager.

He moved to Bermuda in 2000 to join IRMG (now part of Aon)  where he became directly involved in captives. 

“I thought I knew a lot about captives having had some involvement with them in London but quickly realised that I knew virtually nothing about them which was somewhat disconcerting,” he said. “I learned quickly though and thoroughly enjoyed the regular visits of clients for board meetings, rounds of golf, meals in fancy restaurants and drinking into the early hours.”

In 2004, he moved to Guernsey with Aon where he was executive director of Aon Insurance Managers before becoming CEO of Catholic Church’s mutual captive when it decided to self-manage in 2013. 

“So here we are, 38 years (and 4 months) later and I am now ready for my next chapter,” Millar said. “Insurance has taken me around the world and given me experiences that I will always be grateful for – who said insurance is boring? 

“If you are reading this then our paths have likely crossed along the way and I grateful to you for adding to my journey.”

Millar, who worked in the captive insurance industry in Bermuda and Guernsey for almost 25 years, said in a post on LinkedIn that his full 38 year career in insurance had “in some ways gone in a flash”. 

Millar’s career began in 1986 with RSA (then Sun Alliance) and he also worked for Sun Bank in Stevenage as insurance manager.

He moved to Bermuda in 2000 to join IRMG (now part of Aon)  where he became directly involved in captives. 

“I thought I knew a lot about captives having had some involvement with them in London but quickly realised that I knew virtually nothing about them which was somewhat disconcerting,” he said. “I learned quickly though and thoroughly enjoyed the regular visits of clients for board meetings, rounds of golf, meals in fancy restaurants and drinking into the early hours.”

In 2004, he moved to Guernsey with Aon where he was executive director of Aon Insurance Managers before becoming CEO of Catholic Church’s mutual captive when it decided to self-manage in 2013. 

“So here we are, 38 years (and 4 months) later and I am now ready for my next chapter,” Millar said. “Insurance has taken me around the world and given me experiences that I will always be grateful for – who said insurance is boring? 

“If you are reading this then our paths have likely crossed along the way and I grateful to you for adding to my journey.”

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