Two important people to us at VCIA have recently announced new positions in the captive insurance community.

As many of you saw from the Captive Review report last week, XL Catlin has appointed Steve Bauman as head of global programs and captive practice in North America. Steve is a longtime VCIA board member, formerly with Zurich North America, and has been a high-profile figure in America’s captive industry, having worked at Zurich as head of captive services in the US from 2007 to 2017.  Hiring Steve is a sure sign that XL Catlin is very interested in growing its captive programs in North America after making significant investment in its captive expertise over the past two years mostly in its European operation.

Secondly, Kroll Bond Rating Agency (KBRA) announced today the appointment of Carol Pierce to the role of director in KBRA’s insurance group with a focus on captives, reinsurers, and alternative capital providers. Carol joins KBRA’s analytic team after thirteen years with Munich Reinsurance America, where she was responsible for market, competitor, and client analysis, initially for the specialty-markets division and more recently for the reinsurance division. Prior to Munich Re, Pierce worked at A.M. Best, where she managed the team responsible for expanding ratings among captive insurers. Carol is a former member of our board of directors and was a past recipient of the VCIA Captive Crusader Award.

We are excited to have Steve and Carol continuing to bring their experience and support to the captive industry in their new positions!

I look forward to hearing from you.

Rich Smith
VCIA President