FORTY under 40: Kevin Boysen
Kevin Boysen, AVP – construction captive officer, CNA Insurance.
Kevin Boysen’s career at CNA began in 2009 as a staff accountant after he graduated from Carthage College with a BA in accounting and business management. Over the next decade, he held various finance roles that allowed him to collaborate with multiple departments including reinsurance, claims and actuarial. During the past five years, he has supported the commercial business, working closely with senior leaders to develop strategies and monitor portfolio performance. During this time, he realised he could make a larger impact within the business, leading to his transition to captive underwriting. He started as an underwriting consultant and progressed to his current role as the AVP – construction captive officer, overseeing the construction captive unit, directing its strategy, growth and profitability.
How did you first become involved in captive insurance?
From the moment I accepted my role in captive insurance, I was hooked and haven't looked back.
It all started during my time in finance, when I developed a strong understanding of the commercial business from a financial perspective, working closely with the vice president of the captive team. When an underwriting position opened, he asked if I was interested. The opportunity to learn underwriting while still using my finance background on the reinsurance aspect of the job was very appealing, so I went for it.
What are the greatest challenges of working in this industry, and what do you find most rewarding?
Involving and educating both brokers and potential insureds on the benefits of captive insurance. Joining a group captive is a significant step for many organisations, requiring a substantial financial commitment for share purchases and posting collateral.
The most rewarding aspect is finding innovative ways to structure the captive and reinsurance to maximise returns based on the its risk tolerance. This is because we are setting ourselves apart from our competitors by adding value to our customers. The group captive space is still in its early stages of deal structuring, and many more creative structures will emerge in the coming years.
Would you recommend the captive insurance industry to young people as a future career path?
I highly recommend captive insurance to young professionals. The work is both challenging and rewarding, making the job exciting. This field will continue to experience rapid growth as it provides best-in-class companies with a way to insulate themselves from a hard market, offering young professionals wide scope to advance into senior roles.
We are setting ourselves apart from our competitors by adding value to our customers
What developments do you see ahead for captives?
There are many opportunities to structure deals to maximise returns better for shareholders given that the industry is still relatively young. This could involve innovating ways to add different coverages or lines of business not typically seen in the captive space, and utilising reinsurance.
Do you think your long-term future remains in the captives market?
Yes because it continues to excite me every day when I come to work. I'm constantly learning from many intelligent people in the industry and look forward to being a part of this great field for years to come.
Click here to read Captive International’s third FORTY Under 40 2025 publication.
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