Towle hails thriving captive insurance industry
The captive insurance industry is experiencing unprecedented growth, according to Dan Towle (pictured), president of the Captive Insurance Companies Association (CICA), during his opening address at the annual CICA conference, taking place this week in Tucson, Arizona.
The conference has reported record-breaking attendance, with almost 750 participants from 43 states, Puerto Rico, and international locations as distant as India and Guam. Among them were 285 first-time attendees and 179 captive owners. “This means that 25% of all our attendees are captive owners,” Towle highlighted, emphasising the conference’s growing appeal to industry leaders.
Education remained a key theme, Towle said, with 35 sessions led by 120 industry speakers covering emerging risks, captive opportunities, and professional development. “We have a tremendous educational programme, and I encourage all of you to build your schedule using the mobile app to maximise your experience,” Towle urged attendees.
A particularly notable achievement in the captive insurance sector, as highlighted by Towle, is its growing market share. “According to EY’s 2024 Global Insurance Outlook Report, captives now represent nearly 25% of the overall commercial insurance market,” he announced. “This is a huge milestone for our industry, further solidifying that no one can refer to captive insurance as the ‘alternative’ risk market anymore.”
Looking ahead, Towle forecasted continued expansion. “If market conditions stay strong, it is quite possible that while it took the captive industry over 50 years to reach 25%, it might only take 15 years to make up 40% of all global commercial premium. That would be amazing,” he stated.
Towle also reinforced the importance of regulatory engagement and advocacy. “We have increased our federal lobbying presence and retained a top lobbying firm in Washington, DC, to further build our credibility and protect the industry,” he affirmed. CICA’s commitment to regulatory partnerships was evident with the presence of 72 government regulators at the conference. “I challenge all of us to do more to support our domicile regulators. They are the backbone of our industry.”
The industry's growth is reflected in CICA’s expanding membership, which has surpassed 650 members in 2025. “We work hard to deliver value for our members and are proud of our 91%-member satisfaction rating,” Towle noted. The association’s LinkedIn presence has also surged, with over 6,000 followers receiving industry updates and programme insights.
CICA continues to prioritise professional development, partnering with the International Centre for Captive Insurance Education (ICCIE). Towle pointed out that CICA is ICCIE’s largest financial contributor, and they are our educational partner throughout the year. The success of our industry is tied to our ability to find, educate, and qualify professionals.
With a domicile-neutral environment and strong global partnerships, CICA remains at the forefront of fostering the captive insurance industry’s expansion, Towle stressed. He concluded, “This truly is an incredible time for the captive industry—one that should be recognised and appreciated.”
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