FORTY under 40: Dylan Feringa
Dylan Feringa, director, PNC Insurance.
Dylan Feringa, a director and vice president in PNC’s insurance and specialised industries asset management group, is involved in investment consulting, relationship management and business development.
He covers USA, Canada, Bermuda, Turks and Caicos, Barbados and the Cayman Islands. He helps lead client service teams consulting with commercial and captive insurers, and other specialty industries (asset-backed, leasing and transportation, private equity, REITs and venture capital firms), on institutional investment solutions with a focus on holistic and bespoke multi-asset portfolios.
Prior to PNC he was a banker at JPMorgan Chase and has worked in LA, Denver and now Chicago. He holds the capital markets and securities analyst (CSMA) designation and the chartered sustainable responsible impact investing counselor (CSRIC) designation.
How did you first become involved in captive insurance?
Initially when Anjanette Fowler (my mentor) recruited me and I have become entrenched ever since. My first major introduction to the industry was the CICA international captive conference.
What are the greatest challenges of working in this industry, and what do you find most rewarding?
One is to understand the industry itself. The captive industry, while vast, remains very niche and, as such, when you’re first getting involved you really need to put your head down and learn about the industry and all its complex interworkings. You must take time to research, network and understand the intricacies behind captives but also realise that as you view one captive insurance programme, one captive investment strategy, the next captive you see will be very different.
There is a reason why we hear the common phrase “when you see one captive, you have seen one captive” – this industry evolves quickly to address gaps within the existing insurance and reinsurance market, thus you need to stay on top of this constant evolution. All that said, I’d also say it keeps you on your toes; you have to be creative in the advice/strategy you employ when working with a captive, no matter if you are the consultant, investment manager, actuary or whatever – the industry is not mundane and constant creativity is its most rewarding aspect.
Would you recommend the captive insurance industry to young people as a future career path?
Yes, and yes again a thousand times over. I am convinced this industry remains an enigma in the best way. It’s extremely diversified, from a people and an industry standpoint, but it’s not saturated as other sectors are. No matter what your interest is, you are likely to find a spot in the captive sector. As we have heard over the past few years, there is an anticipated large retirement wave hitting the industry, presenting a unique opportunity for early career and mid-career individuals to advance further in the career. The industry embraces young people and encourages active participation, which is not always the case in other industries.
What developments do you see ahead for captives?
The industry is evolving in response to broader trends in the market and new technological advancements. I foresee multiple developments. One is captive owners continuing to evaluate how to expand the overall usage of the captive. Now with that, I believe they will need to continue to be strategic on how they leverage the captive’s balance sheet; if they want to expand the programme, are they being strategic about its investment strategy to help support these new risks?
Other developments I see is the increased use of liability driven investment strategies, international diversification risk exposures with multinational corporations seeking solutions for global operations and increased use of AI in risk management and advanced analytics. The ongoing challenges in placing property risk in the commercial market will lead to more captives evaluating this risk; captives may expand their role as hubs for alternative risk financing for more innovative solutions and captives are continuing to create tailored reinsurance structures that help them share more complex risks and mitigate potential financial volatility.
These are just some trends I see ahead, as organisations realise the financial benefits, risk and insurance control and tailoring of solutions a captive can bring to address their risks today and tomorrow, so the industry is poised for unparalleled growth.
Do you think your long-term future remains in the captives market?
My future will remain in the captive markets as long as I, and the industry, are around. This has been an amazingly rewarding sector that I believe will continue to grow as organisations look to address future risk financing and insurance needs.
Click here to read Captive International’s third FORTY Under 40 2025 publication.
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