FORTY under 40:Alex Murray
Alex Murray, Partner, Johnson Lambert
Alex Murray’s career at Johnson Lambert began in 2010 after graduating from James Madison University. Joining the firm in 2010 as an associate in the Virginia office, Murray quickly distinguished himself through his technical and leadership capabilities, serving a wide variety of insurance industry clients.
His swift progression is marked by his move in 2016 to South Carolina. Since that time he has led the SC office through a period of significant growth, in terms of number of employees and revenue. Murray’s career reached a significant milestone in 2023, culminating in his promotion to partner.
Beyond this, Murray has actively contributed to the broader captive insurance community. His leadership roles have included serving on conference committees for various state-specific captives associations, including as the committee chair for the South Carolina Captive Insurance Association in 2021 and 2022 and now on the board of directors as treasurer.
In 2023, Murray was honoured as an Emerging Leader by the American Property Casualty Insurance Association. This accolade reflects not just his past achievements but also his potential to drive further innovation and excellence in the captive and broader insurance community.
In his role leading the Charleston office, Murray has cultivated a strong, cohesive team culture characterised by mutual respect, collaboration, and a shared commitment to excellence. That type of leadership is regarded as central to the success of the organisation, because it helps retain talent and because the extension from strong office culture to working hard on behalf of the client is natural and consistently complimented by clients and captive management companies.
How did you become involved in captive insurance?
I was introduced to captive insurance at the very onset of my career, not realising that it would end up being such an integral part of what I do now, 10+ years later. During my initial internship with Johnson Lambert, I assisted with carrying out audit procedures over a number of captive insurance entities. I was lucky in the sense that I didn’t really know what I was getting into, and I often feel that I fell backwards into the captive industry through public accounting. While there was a learning curve on the technical side, one aspect that was easy to pick up on was that the captive industry is a fascinating and rewarding field to work in.
What are the biggest challenges of working in this industry, and what do you find most rewarding?
One of the biggest challenges, especially for those just entering the industry, can be the intricate and complex nature of a captive. Every entity is different and requires in-depth knowledge to ensure you’re providing the best services. While this can be challenging, it’s also part of what keeps the job interesting—the continuous opportunities for learning and growth.
“Watching these emerging talents learn and contribute their fresh perspectives to captive insurance is truly inspiring.”
As a niche-focused firm, Johnson Lambert has phenomenal captive-specific trainings and resources that empower our team to tackle the nuances and complexities of captive insurance head-on.
The most rewarding aspect of working in the captives industry is the opportunity to assist clients with their risk management challenges in a cost-effective manner. It’s gratifying to provide solutions that not only meet their needs but also enhance their financial stability.
Equally fulfilling to helping our clients grow and thrive, has been developing the next generation of Johnson Lambert’s captive insurance leaders. Watching these emerging talents learn and contribute their fresh perspectives to captive insurance is truly inspiring.
Would you recommend the captive insurance industry to young people as a future career path?
The opportunities in the captives industry are endless. Not only is the industry consistently growing, it also offers young professionals the chance to continuously learn while helping companies worldwide manage their risks in financially advantageous ways. Beyond being merely a career path, captive insurance has also become such a connected community, and this community truly cares about and intentionally works on nurturing the next generation of captives professionals.
This environment provides a rewarding blend of challenge, innovation, and professional development, making it an ideal choice for those looking to make a significant impact.
What developments do you see ahead for captives?
Looking ahead, the captive insurance industry is poised for significant developments, especially with the integration of automation tools and artificial intelligence. These technologies are revolutionising how we efficiently and strategically address our clients’ risk management issues.
As these advancements continue to evolve, it’s crucial that our industry stays at the forefront. We are in a unique position with access to vast amounts of data, which can be leveraged to develop productive and effective risk mitigation strategies. This proactive approach not only enhances our service offerings but also ensures we remain competitive and innovative in addressing the ever-changing risk landscape.
Do you think that your long-term future remains in the captives market?
Definitely. The captive insurance sector is continuously growing, opening up endless opportunities for innovation and learning. I’m excited about my future here and look forward to making impactful contributions for many years to come.
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