FORTY under 40: Larry Howley
Larry Howley, Regional director–Americas, MAXIS Global Benefits Network
Larry Howley is responsible for all outbound business development across the region. He leads the Americas team and works closely with some of MAXIS GBN’s largest and most sophisticated clients and partners.
Howley has 13 years’ experience in the insurance industry and has held a number of diverse roles across financial management, underwriting, and business development. Prior to his current role, he was regional manager for the US Northeast and led a team of account managers, driving growth across the region.
He spent five years as an underwriting manager for MAXIS GBN’s Americas region, working with more than 50 multinational customers in the technical management of their global programmes.
Howley holds an MBA from the University of North Carolina–Chapel Hill, with a concentration in finance.
How did you become involved in captive insurance?
I have worked in the captive insurance industry since I completed my undergraduate degree over 13 years ago and I’ve been lucky to gain experience in a number of different areas of the industry, from underwriting to financial management and business development. My first role at MAXIS GBN was as an underwriter working on reinsurance risk transfer for global employee benefits captive programmes.
I spent five years as an underwriting manager for the Americas region, working with more than 50 multinational clients on the technical management of their global programmes. Since then I’ve moved into business development, looking after some of MAXIS GBN’s largest and most sophisticated captive clients.
It’s great to have had this range of opportunities and I feel I understand the captive industry very well because of the range of roles I’ve taken on since my career began.
What are the biggest challenges of working in this industry, and what do you find most rewarding?
I would say that the biggest challenge I face within the captives industry is navigating the complex regulatory environments we find ourselves in, particularly given the global nature of our business and the number of markets MAXIS and our network partners are working in.
Despite these challenges, I find working with our key clients, brokers and external stakeholders hugely rewarding. Relationships are key to success in the captives industry and I love having the opportunity to continue developing relationships with industry friends and colleagues, both new and old.
“I love having the opportunity to continue developing relationships with industry friends and colleagues.”
Would you recommend the captive insurance industry to young people as a future career path?
I have thoroughly enjoyed my career within captive insurance and it’s an industry full of opportunities and room for growth and improvement. To any young people looking to start a career in captive insurance, I’d say: go for it! If you’re looking to be a part of a dynamic, innovative and ever-growing segment of the financial services industry, captive insurance is definitely something I’d recommend.
What developments do you see ahead for captives?
Two of the main factors impacting the future of captives are rising inflation and an increased focus on health and wellbeing.
Multinational employers are looking to keep costs down in the face of rising inflation, while providing flexible benefits programmes that meet their needs of their employees. With these two trends in mind, I think the captives industry will continue to grow, particularly in the employee benefits space, as employers look to increase their control over their global programmes and make sure they are truly caring for their people.
Do you think that your long-term future remains in the captives market?
My long-term future is definitely in captive insurance—so far, I’ve found the industry to be extremely rewarding and I’m excited for the diverse range of challenges and opportunities that I’ll face in the future.
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