FORTY under 40: Adam Miholic
Adam Miholic, Global head of captive operations, Revantage
Adam Miholic began his career in the insurance industry in 2012 as an account manager for a local firm. Over time he became more exposed to clients with captives as a part of their risk management platform and was naturally attracted to their operations and value-add to his clients. He moved in to a full-time captive consulting role in 2015 and worked with clients to evaluate, implement and operate captive insurance companies for the next nine years. In 2023 he joined Revantage as its head of North American placement and global head of captive operations.
How did you first become involved in captive insurance?
As an account manager and executive, many of my clients were either members of a group captive or had taken the necessary steps to implement their own single-parent captive. The more I was exposed to their operations through routine operation calls, claims updates and board meetings, I became increasingly interested in this sector of the insurance world. When given the opportunity to become a consultant focused solely on creating captives on behalf of my clients, I jumped at the chance. Early on I became a member of the Captive Insurance Companies Association (CICA) and spent time at many conferences educating myself and become more involved in the industry.
What are the greatest challenges of working in this industry, and what do you find most rewarding?
To me, the greatest challenge also happens to be one of the reasons this industry remains so exciting. That is the pace at which the captive industry evolves and changes. As an alternative form of risk financing, captives are naturally more flexible and agile than the traditional market – often able to respond faster to insurance trends and losses than traditional counterparts. Given that, there is a responsibility of those in the space to stay current on everything from macro and micro industry trends, legal and regulatory statutes and insured needs.
The most rewarding part has been my exposure to so many different businesses, their operations, processes and people. The relationships I have made in the captive space over the past ten-plus years have been professionally and personally profound.
One quality of the captive space that keeps moving it forward is the unbelievably vast experiences of the people who make it what it is
Would you recommend the captive insurance industry to young people as a future career path?
Absolutely. There are so many industries that make up the captive “industry”. Whether you have an interest/degree in insurance and risk, legal, accounting, finance or general business (or history, like me) there is definitely a spot for you in this industry. One quality of the captive space that keeps moving it forward is the unbelievably vast experiences of the people who make it what it is.
What developments do you see ahead for captives?
I see captives continuing to be crucial to the risk financing methods for companies of all shapes and sizes. The recent years have shown amazing growth in captive formations, and I do not see that slowing down any time soon. As the markets shift due to climate issues, geopolitical events or general trends, captives will step in to fill the void left by exiting capacity or mispriced coverage(s).
Do you think your long-term future remains in the captives market?
Yes, 100%.
Click here to read Captive International’s third FORTY Under 40 2025 publication.
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