North Carolina captive industry icon retires

One of the early leaders of the North Carolina captive insurance industry has retired. 

Martin Eveleigh, founded Atlas Insurance Management of Charlotte and served as president since its inception in 2002. 

Eveleigh founded Atlas in the Bahamas in 2002 and moved to the Cayman Islands in 2004, before relocating to Charlotte, North Carolina in 2011. It still has an office in the Cayman Islands, 

He grew Atlas into a significant independent captive manager in the United States and offshore jurisdictions over a 20-year period, until it was acquired by broker Risk Strategies in 2020.

In September 2023 Risk Strategies announced it was consolidating Atlas into its Risk Management Advisors brand. Eveleigh will continue in a consulting role for Risk Management Advisors

Eveleigh is known in the industry for having a flair for innovation, according to the North Carolina Captive insurance Association newsletter.  

He was instrumental in the early days in the creation of the North Carolina domicile and served as the second NCCIA chairman. 

Tom Adams, NCCIA president, said of Eveleigh: “Martin was one of those guys, in our early days, you could call and ask what he thought of a given issue. 

“He would then break away from a very busy schedule and tackle the problem himself. 

“He is a natural leader, a great guy, and the kind of person you want on your team. I wish him the best in his well-earned retirement.”

Eveleigh has an MA in jurisprudence from Oxford and is a Barrister-At-Law. He is also a Chartered Insurance Practitioner and Associate of the Chartered Insurance Institute.

He began his career as a broker in the Lloyd’s of London market in 1983 and as executive director of the International Reinsurance Division of Willis, he negotiated and placed the largest marine excess of loss programs in the world. 

Eveleigh specializes in designing alternative risk transfer programs – particularly risk pools – and captive structures. He has chaired the legislative committee of the Bahamas International Insurance Association and has drafted legislation and regulatory guidance for Anguilla and Nevis. He sits on the captive committee of the Self-Insurance Institute of America. 

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