CICA unveils new chair
Prabal Lakhanpal (pictured), senior vice president, Spring Consulting Group, has been elected to Chair the Board of Directors of the Captive Insurance Companies Association (CICA).
Lakhanpal has been a CICA member since 2018 and was involved in the launch of the CICA NEXTGen program, also serving as a former NEXTGen chair. Since joining Spring in 2015, Lakhanpal has served as a lead for some of the country’s largest employers – helping create and implement solutions, with a focus on employee benefits, captive insurance and alternative risk funding.
Throughout his career, Lakhanpal has worked in various finance and operational roles across the globe earning the Emerging Talent Award for Service Professionals from Captive Review in 2019, making Captive Review’s Power 50 list, and the Captive International Forty Under 40 list in 2025.
“CICA has been an incredibly rewarding professional community for me. What I appreciate most about being a member is the collaborative spirit and shared commitment to advancing the captive industry,” Lakhanpal said. “The relationships, mentorship, and educational opportunities CICA fosters truly set it apart. As Chair, I’m looking forward to working with our board and volunteer leaders to further strengthen member engagement, enhance our educational offerings, and continue elevating the voice of captives. CICA remains an essential association in today’s environment. As captives become an increasingly strategic component of enterprise risk management, having a strong, unified organization that supports advocacy, innovation, and best practices is more important than ever.”
In addition to Lakhanpal, the board elected Anjanette Fowler, managing director, senior vice president for insurance and specialized industries group, PNC, as Vice Chair; and Cheryl Baker, vice president of enterprise risk management, IFO Group, as Secretary/Treasurer. Heather McClure, managing partner, Helio Risk, serves as the Immediate Past Chair.
Returning CICA board members are David Beyer, director of risk management, Alaska Airlines; Melissa Hollingsworth, chief deputy officer, risk management, Los Angeles Unified School District; Udo Kappes, head of insurance, RWE AG-Germany; and Adam Miholic, vice president, head of captives and procurement, Revantage.
New board members are Karen Hsi Van’t Hul, ACI, executive director of captive insurance programs, University of California; Aileen Krehbiel, manager of captive insurance program, Deere & Company; and Joshua Reding, director of risk management, LifeTime Fitness.
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