FORTY under 40: Caleb Hancock
Caleb Hancock, director, client services – actuarial, GPW and Associates.
Caleb Hancock joined GPW and Associates (GPW) in 2022 as an actuary and is now its director, client services – actuarial. He works with clients to design, price and implement captive insurance programmes. His primary areas of expertise include property, auto and alternative property and casualty risks. In addition, he manages a team of actuaries and oversees GPW’s actuarial internship programme.
Prior to GPW, Hancock started in 2018 working for commercial excess and surplus lines carriers focused on pricing, reserving and analytics. He earned his fellowship in the Casualty Actuary Society in 2024 and is a member of the American Academy of Actuaries.
How did you first become involved in captive insurance?
I was looking for a new opportunity and was intrigued by the captive insurance industry through colleagues in my network. They talked about how their work allowed them to be hands on with clients and help clients find solutions to problems. Once an opportunity at GPW was available, I decided to jump in, learning as much as possible about the industry and how captives can be used.
What are the greatest challenges of working in this industry, and what do you find most rewarding?
We are on the cutting edge of the insurance industry. Many times, we must tackle pricing policies with limited data and lots of uncertainty surrounding the outcomes.
The challenge provides the reward of getting to work with our clients to understand their risks and utilise data to quantify the risk. This leads to great collaboration with other associates that may provide unique insights into risks. We are constantly learning and developing.
Would you recommend the captive insurance industry to young people as a future career path?
The industry provides young professionals with the opportunity to develop a lasting career. The sector is full of collaboration across the industry through different associations. Additionally, there are many great industry veterans providing mentorship to help young professionals develop.
We are on the cutting edge of the insurance industry. Many times, we must tackle pricing policies with limited data and lots of uncertainty
The captive insurance market is consistently changing, providing new opportunities to learn and develop. There will always be a new challenge on the horizon as businesses adapt to meet different needs.
What developments do you see ahead for captives?
Captives will continue to adapt to market conditions and provide an excellent alternative to traditional insurance. We see many new challenges through captives used to weather hard insurance markets and provide a tool for risk management.
Do you think your long-term future remains in the captives market?
Yes, the captive market offers continuous opportunities to grow in your career. I look forward to expanding my knowledge of the industry. I am just beginning to develop relationships with clients, colleagues and business partners. I look forward to a long career in captive insurance.
Click here to read Captive International’s third FORTY Under 40 2025 publication.
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