Influential Women in Captive Insurance: Renea Louie

Renea Louie, Chief operations officer, Pro Group Captive Management Services

Renea Louie joined the Pro Group family of companies in 2005. She is the chief operations officer for Pro Group Captive Management Services (PGCMS) and has extensive experience and knowledge of the alternative risk transfer industry and business management and growth. Prior to joining Pro Group, she held top level executive roles in the high-tech industry. She is based at the corporate headquarters in Carson City, Nevada.

Louie has 35 years’ experience in senior management, operations, IT, marketing, administration, and corporate affairs. She is responsible for the day-to-day operations and oversees and manages marketing, underwriting, accounting, audit, risk management, client and regulator relations, client acquisition and retention, regulatory compliance, government affairs and corporate communications and standards.

Louie has served as a board member of the International Center for Captive Insurance Education (ICCIE) for two terms totalling six years and continues to serve on the marketing committee. She is the current Western Region Captive Association co-chair and board member, the Nevada Captive Industry Council director and officer and Oklahoma Captive Insurance Association director.

She completed her term as chair of the board and elected director of the global Captive Insurance Companies Association (CICA) with five years of service as an officer serving as the secretary/treasurer of the global organisation and vice chair of the board before ascending to chair of the board; she is now immediate past-president.

How did you get started in the captive insurance industry?

That is a great question. It was truly by accident. I was asked by a senior leader in the industry, Robert Vogel, a businessman in our community, to consider coming to Pro Group for a unique opportunity. I had no experience in captive insurance, but he explained Pro Group was a leader in the alternative risk transfer business including self-insured groups for workers’ compensation and they were growing their practice in the captives space, leading the way in Nevada and planning to expand.

I was immediately drawn to the unique strategies and the innovation captive insurance solutions and self-insured groups could provide to business.

I was fascinated by the flexibility and customisation captives offer. No two captives were exactly alike—but instead tailored to the specific needs and risk profiles of the parent. I remember thinking how brilliant that was. Being part of the solution to build risk models, work with actuaries, claims adjusters and underwriters for very high end sophisticated clients seemed exciting and “captivating”.

I remember my first day very well. They handed me the statutes and regulations for captives and said: “Read this is in its entirety and memorise it, for all these states. You will need it daily.” They were right. One of my very first projects was building a risk retention group. Talk about jumping in the deep end of the pool right away!

Who inspired you or acted as a mentor in your career?

Throughout our careers, we are often fortunate to cross paths with leaders who inspire us, guide us, and act as invaluable mentors. For me, there have been a few individuals who have left an indelible mark and helped shape my professional development.

One such mentor was Robert Vogel, who was a true pioneer in the field of alternative risk transfer. His deep expertise and passion for the subject matter were infectious, and I found myself immediately immersed in learning as much as I could. I sought out advanced education opportunities, becoming a dedicated student of The Institutes and attending in-person classes led by the renowned Cliff King.

Cliff, who at the time was both a regulator and an exceptional educator, had a unique ability to break down complex topics in a way that was engaging and accessible. His teaching style was dynamic and energetic, earning him the well-deserved title of “rock star” in the industry.

I received the VCIA Distinguished Scholar Award and was so honoured. I used that opportunity to take every possible course with ICCIE and learn from as many as possible. The great thing about ICCIE is you meet professionals from around the world in every course and learn not only from the instructors but from the students. I have continued my education all these years and many of the instructors are mentors and friends today.

These individuals, along with others, have left an indelible mark on my career journey. Their willingness to share their knowledge, provide guidance, and challenge me to grow has been invaluable. Their influence has not only shaped my technical skills but has also instilled in me a deep appreciation for the power of mentorship and the importance of paying it forward.

What do you think deters people from entering the world of captives?

Truly the first thing that comes to mind is lack of awareness. Many professionals from accounting, math, science, insurance, actuaries, brokers, bankers, and so many other fields may simply be unaware of the captive insurance industry and the rewarding career paths it offers. This niche sector often flies under the radar, leaving talented individuals unaware of the chance to make a significant impact.

No two days are alike in our industry. You will never be bored. There are great opportunities and it will continue to need great professionals from all walks of life.

Additionally, perceived complexity seems to be a concern. The intricacies of captive insurance can seem daunting at first glance. However, with the right guidance, training, mentors, conferences and resources, this complexity can be navigated, unlocking a world of intricate concepts and innovative solutions. That is exactly how I started. I was not intimidated by the complexities and instead embraced them.

I often hear misconceptions about qualifications. Some believe that entering the captives industry requires a highly specialised background or extensive experience. In reality, you learn most of it on the job and with ICCIE. The industry always needs a diverse range of skills and perspectives.

“Your state association is also a good place to join—register for their newsletters, attend meetings and you will instantly find many who will support you.”

For our industry there is no lack of mentorship, education and support. Our industry is amazing in this regard. You always will have access to experienced professionals who can share their insights and provide mentorship and training. Aspiring captive leaders may feel isolated and unsure of how to take the first step, but publications such as Captive International can help them take the first step.

The CICA provides so much information, education, hot topics, conferences, committee work and more. Your state association is also a good place to join—register for their newsletters, attend meetings and you will instantly find many who will support you. They are always here to help.

How can mentorship and sponsorship programmes be designed to better support the career development of women?

As we strive to create a more equitable and inclusive captive insurance industry, the importance of effective mentorship and sponsorship programmes for women cannot be overstated. These initiatives have the power to unlock the full potential of female professionals, accelerating their career development and positioning them for long-term success.

A well-structured mentorship programme pairs aspiring women with experienced, influential leaders who can provide invaluable guidance and support. By fostering meaningful connections, these programmes offer female professionals:

• Access to industry insights and best practices;

• Advice on navigating workplace challenges;

• Opportunities to develop essential skills and competencies; and

• Increased confidence and self-advocacy.

When mentors actively champion their mentees’ achievements and advocate for their advancement, the impact can be transformative. This personalised approach empowers women to overcome barriers and unlock new avenues for growth.

In what ways can companies in the sector create a more inclusive culture that actively promotes gender diversity at all levels?

While mentorship lays the groundwork, sponsorship takes the next crucial step. Sponsorship programs leverage the influence and connections of senior leaders to actively promote and advocate for high-performing women, ensuring they are considered for stretch assignments, leadership roles, and other career-advancing opportunities.

Effective sponsorship programmes can:

• Increase visibility of talented women within the industry;

• Provide endorsement and backing from respected industry figures;

• Open doors to new projects, committees, and decision-making bodies; and

• Accelerate the path to leadership and executive positions.

By leveraging the power of sponsorship, organisations can proactively address the systemic biases and barriers that have historically hindered the advancement of women.

As you consider implementing or refining mentorship and sponsorship programmes within your organisation, keep the following best practices in mind:

• Ensure programmes are tailored to the unique needs and challenges faced by women;

• Prioritise matching mentees and sponsors based on shared goals, values, and communication styles;

• Provide training and resources to help mentors and sponsors effectively fulfil their roles; and

• Track and measure programme outcomes to continuously improve and enhance impact.

Together, we can cultivate a captive insurance industry where women are empowered to thrive, lead, and shape the future.

What challenges are gender-specific to women in the captives industry?

I’ve had the opportunity to witness first-hand the unique challenges that women face in this field. In recent years we have had an open and honest discussion about these gender-specific barriers and how we can work together to overcome them.

One of the primary challenges I’ve observed is the persistent gender bias and lack of representation at the leadership level. Women are often overlooked for senior roles, despite possessing the same qualifications and expertise as their male counterparts. This can create a discouraging environment and limit the career advancement opportunities for talented female professionals.

Another key issue is the work-life balance dilemma. Many women in the captives sector are also juggling the demands of family and caregiving responsibilities. The industry’s high-pressure, fast-paced nature can make it challenging to maintain a healthy work-life integration, leading to burnout and attrition among female employees.

Compounding these challenges is the lack of mentorship and networking opportunities tailored to the needs of women. Without access to experienced female role models and supportive peer groups, women can struggle to navigate the complexities of the captives industry and develop the confidence to pursue leadership positions.

What solutions would you like to see?

We have come a long way in the last 20 years and I’m convinced that with the continued right strategies and collective effort, we can create a more inclusive and equitable environment for women in the captives sector. By addressing these gender-specific barriers head-on, we can unlock the full potential of our female talent and drive innovation, diversity, and success within our organisations. The sky is the limit.

What are your ambitions?

You have to reflect and ask yourself every year, what are your deepest ambitions in life? It’s a question that can be both exciting and daunting, but one that’s essential to explore if you want to truly fulfil your purpose and live a life of meaning and fulfilment.

Too often, we get caught up in the day-to-day grind, losing sight of the bigger picture and the dreams that once inspired us. You must reconnect with that inner fire and uncover the ambitions that can propel you towards a more rewarding and impactful future—and that is not only in your career.

Whether it’s starting a new job, accepting a promotion, making a difference in your community, starting a family, mentoring, teaching, or simply living a life of purpose and passion, or all of those, your ambitions hold the key to unlocking your full potential. By identifying and pursuing these ambitions, you’ll find greater personal satisfaction, and have the opportunity to leave a lasting legacy.

I have made it my priority and mission in life always to give more than I take. That includes in my industry, my community, my church and my family. The journey may not be easy, but the rewards are truly transformative. Imagine waking up each day with a sense of excitement and purpose, driven by the knowledge that you’re actively working towards something greater than yourself. That’s the power of ambition. Don’t waste it.

Click here to read Captive International’s first Influential Women in Captive Insurance publication, celebrating the women transforming the captive sector through their sustained excellence and leadership.

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