FORTY under 40: Diana Hardy
Diana Hardy, chief operating officer, RH CPAs
Diana Hardy began her career at a Raleigh-based accounting firm, after graduating from North Carolina State University with her masters in accounting. In 2015, she joined RH CPAs as an audit manager. Currently she serves as the managing director of audit services and chief operating officer. She leads the firm’s attestation practice, oversees operations and manages multiple captive and traditional insurance teams.
How did you first become involved in captive insurance?
Initially through my auditing work with insurance entities when beginning my position at RH CPAs. It was a whole other world of accounting, and I had fun solving complex problems. I developed expertise in complex accounting topics and mergers and acquisitions.
This exposure led me to specialise in the captive insurance sector, where I now manage multiple captive and traditional insurance teams within RH CPAs and the firm’s operations.
I enjoy bringing together individuals with diverse expertise to solve problems and drive innovation
What are the greatest challenges of working in this industry, and what do you find most rewarding?
The greatest challenges are navigating the ever-evolving regulatory landscape, managing and maintaining a proper relationship with the NAIC and attracting talent. I find it rewarding to work with and mentor young professionals helping them grow in their expertise and advance their careers. I also enjoy connecting professionals across different services – bringing together individuals with diverse expertise to solve problems and drive innovation. The industry is full of analytical thinkers and problem-solvers, and being part of a collaborative network that works to optimise risk management strategies is one of the most rewarding aspects of my role.
Would you recommend the captive insurance industry to young people as a future career path?
Absolutely! The captive insurance industry is ever-changing, diverse and sometimes challenging, offering professionals the opportunity to grow and become better in their fields. It encourages innovation and problem-solving, making it ideal for individuals who enjoy analytical thinking and strategic planning.
What developments do you see ahead for captives?
The industry is poised for significant growth, particularly in response to rising insurance costs and market volatility. I anticipate expansion into emerging risks such as cyber liability, increased use of technology and data analytics, regulatory evolution with more domiciles updating frameworks, and growth in cell captives and group captives, providing smaller businesses with access to alternative risk transfer mechanisms.
Do you think your long-term future remains in the captives market?
Yes, I see myself remaining in the captive insurance space for the long term. The industry continues to evolve, offering new challenges and opportunities for professional growth. As captives become an ever more integral part of corporate risk strategies, I look forward to playing a role in shaping innovative solutions and contributing to the industry’s advancement.
Click here to read Captive International’s third FORTY Under 40 2025 publication.
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