CICA unveils 2025 captive award winners
The Captive Insurance Companies Association (CICA) has announced that Paul Phillips (pictured), partner, global captive network tax & strategy leader, EY, has been awarded the CICA 2025 distinguished service award.
It also awarded 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.
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 said he 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. According to CICA he prides himself in building professional service teams to help non-financial people understand complex models.
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 harbours 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.
“I am very honoured and appreciative of the recognition,” said Phillips after receiving the award. “When I see the list of past recipients, I am humbled to be standing in their company.” He encouraged 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. CICA said that Tenda was created for those reasons and found success through their customised approach to offering health insurance for the family members and others in the Ilitch Family Office. The Ilitch Family owns many businesses including more notably the Detroit Red Wings, the Detroit Tigers and Little Ceasars. Following three successful years of operating this unique program, Tenda is now able to share its strategy with others.
“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 other family offices and privately held businesses where high-quality health coverage and other types of insurance are difficult to procure. This has led Tenda to create life insurance, general liability, workers’ compensation, and other property and casualty programs for its affiliated operating companies. Tenda has doubled its capital and surplus since it began and is exploring more ways to share its programmes.
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