I am writing this post in the waning days of August, hoping that summer will surprise us and last further into the year. I took a week off after the VCIA conference, which is needed to recharge my batteries after visiting with over 1000 of my closest friends in the captive industry. I love the positive energy and meeting and talking with so many brilliant, funny and committed people. It’s just that I can’t help but respond with full-on energy, so my tanks get a little depleted by the end of the affair. That being said, the positive vibe was infectious!
VCIA collects surveys and evaluations from the conference (which by all indications were very positive), but I also try to pick up on the feel of the industry just by walking around and talking to many of you. And I have to say, the mood was very upbeat and optimistic. So even though we have our fair share of hurdles, and take more than our share of abuse from those outside the industry (who either don’t understand captives or don’t care), the talk was solidly about growth and opportunities. This optimism is backed up by current reports: Nancy Gray from Aon highlighting the fact that mature captive insurance companies are often in good positions to consider new types of coverage, such as cyber liability and employee benefits… and Anne Marie Towle of Willis emphasizing growth among small and middle markets to the captive industry. To top it all off, A.M. Best reports that U.S. captive insurers continue to outperform the commercial sector in every key financial measure! Good news all around.
So here’s to a great Labor Day weekend, hoping for sun, and feeling positive about captive insurance!