NEXTGen CICA chair wins promotion

Prabal Lakhanpal, board member of the Captive Insurance Companies Association and chair of its NEXTGen Young and New Professionals Committee, has been promoted to senior vice president at Spring.

Lakhanpal has been with the Boston-headquartered consulting group, an Alera Group Company, since 2015, when he joined as a consulting analyst. Most recently, he served as vice president. He has previously worked as a consultant for Boston-based NSTAR (now Eversource EnergyNSTAR) and as an associate for Reina Legal in New Delhi, among others.

After completing his degree at Delhi University, Lakhanpal completed professional exams with the Institute of Chartered Accountants of India, he gained an MBA from the Babson F.W. Olin Graduate School of Business in Massachusetts. In 2020 he was made an associate in captive insurance by the International Center for Captive Insurance Education in Vermont.

He joined the CICA board in March of last year.

“It has been an honour to watch Prabal grow and progress in his career during his time at Spring,” said Karin Landry, Spring managing partner.

“He has quickly become one of the strongest young talents in the captive industry. He continuously builds strong client relationships, builds upon our book of business, shares his knowledge with industry peers, and tackles difficult challenges head-on. Prabal goes above and beyond for both his clients and his colleagues. I am especially proud of how generous he is with his time towards supporting the industry as a whole. We are grateful to have him on our leadership team, and he is well deserving of this promotion.”

Lakhanpal said he was grateful for the opportunities he had been given: “The opportunity to learn from industry veterans and partnering with clients on challenging projects has been instrumental in helping me grow and learn. I am thankful to have been able to carve my own path. I look forward to what the next chapter brings both for myself and for the captive space at large.”