FORTY under 40: Elyssa Nagle
Elyssa Nagle, principal, Johnson Lambert.
Elyssa Nagle started with Johnson Lambert in its Burlington, Vermont office in January 2013. She took a short break to work at a small firm in Boston, but in September 2014 returned as a senior associate. She has been with the firm since and is currently a principal in the audit practice. On top of that, she’s deeply involved in the broader captive insurance world – attending conferences and working with the Vermont Captive Insurance Emerging Leaders (VCEL) committee. She also teaches accounting courses for the International Center for Captive Insurance Education (ICCIE) and holds the associate in captive insurance (ACI) designation.
How did you first become involved in captive insurance?
Initially after joining Johnson Lambert in 2013, when I began performing audit procedures for various captive audits. It was truly a crash course in all things captive, and it didn’t take long before I realised just how diverse, innovative and connected the captive space can be. Early on, I started forming relationships with other service providers and captive owners, and those connections have guided the direction of my career ever since.
You’re constantly learning, staying on your toes and asking questions to understand the clients better
What are the greatest challenges of working in this industry, and what do you find most rewarding?
Ironically, the most challenging aspect is also the most rewarding: every captive is unique! Each has a different set of goals, structures and risk profiles, which can be tricky to navigate from an accounting and auditing perspective. But it means you’re constantly learning, staying on your toes and asking questions to understand the clients better. That variety keeps me engaged, and when we can address a new or complex accounting issue, it’s incredibly satisfying.
Another part I love is getting to know such a diverse range of parent companies. You learn about different industries, risk appetites and business strategies, which makes every day feel fresh. I also really enjoy mentoring junior auditors on these novel topics and guiding them as they figure out the ins and outs of captive insurance accounting.
Would you recommend the captive insurance industry to young people as a future career path?
Definitely! Captive insurance has something for everyone – even outside of the accounting side. Young professionals can pursue roles in risk management, compliance, underwriting, technology or legal, and still be part of the captive world. One of the things that drew me in was how close-knit the community is. You get to know people quickly, and there’s a collective spirit of helping each other out.
In the emerging leaders group in Vermont, I’m a big advocate for outreach, whether it’s speaking to high schoolers or college students, or newcomers to the industry. I love opening their eyes to the opportunities in the captive space, especially since most of us never hear about this field until we stumble into it. It’s a rewarding industry with tons of upward mobility.
What developments do you see ahead for captives?
The captive industry is very responsive to fluctuations in market and economic conditions. I see captives continuing to evolve by offering new types of insurance as we see more need. For example, over the past couple of years, rising open-market rates have prompted many companies to bring their risk management in house by forming a captive at a more favourable cost. Looking ahead, I expect more companies to form captives and for existing captives to expand their coverage offerings. It will also be interesting to see how technology continues to evolve the industry as more companies are using AI and other innovative technologies.
Do you think your long-term future remains in the captives market?
Absolutely. After more than ten years in the industry, I can see first hand why people choose captive insurance as their career. The opportunity for continuous learning and development, along with the ability to consult with clients and mentor new audit professionals, makes this work incredibly rewarding. The sense of community in this industry is truly special; the connections you form can last a lifetime. As someone who thrives on collaboration and mentorship, I can’t imagine being anywhere else.
Click here to read Captive International’s third FORTY Under 40 2025 publication.
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