FORTY under 40: Nick Martin
Nick Martin, vice president – consultant, Lockton alternative risk solutions.
Nick Martin is vice president – consultant within Lockton’s alternative risk solutions practice. His career with Lockton and insurance in general started ten years ago when he joined Lockton as an actuarial analyst. From there, he moved into Lockton Southeast’s analytics team lead and joined alternative risk solutions two years ago.
How did you first become involved in captive insurance?
My first experience was really in the group captive space. Early in my career at Lockton, we focused on developing analytics tools to quantify and compare various group captive offerings versus the broader traditional insurance offerings. Many of my other early experiences with captives also revolved around evaluating surplus within pure single-parent captives, along with business plan changes and potential impact on captive solvency. All these experiences were invaluable for setting a foundational knowledge of captives as I moved into a role focused on broader captive consulting.
What are the greatest challenges of working in this industry, and what do you find most rewarding?
The greatest challenge, in my opinion, is accepting the fact that no matter how much you know about captive insurance, there is always something new you will come across. Paradoxically, this is also the most rewarding part of the industry as it keeps intellectual curiosity at the forefront of any of my captive engagements.
Would you recommend the captive insurance industry to young people as a future career path?
Absolutely. Alternative strategies for handling and financing risk will continue to grow and, in my opinion, provide a number of employment avenues for the foreseeable future.
What developments do you see ahead for captives?
I do think, in the U.S. market at least, there is some uncertainty with recent IRS 831(b) guidance and expected congressional challenges to said guidance. I do not, however, believe this will have any long-term impact on growth in the captive space. As risk transfer continues to become more expensive, vehicles to assume the risk better will stay relevant. In the near term, I believe we will see significant interest in captive strategies to handle U.S. liability insurance. Those forming now and ones formed in the past will likely look to leverage existing captive insurers against the broader traditional risk transfer space.
As risk transfer continues to become more expensive, vehicles to assume the risk better will stay relevant
Do you think your long-term future remains in the captives market?
I do. At my core, I love engaging with Lockton clients on strategy. Captive strategies, solutions and offerings will certainly continue to be a large segment of those conversations, and I look forward to continuing in the captive space for many years to come.
Click here to read Captive International’s third FORTY Under 40 2025 publication.
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