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CICA Honors 2015 Recipients of Prestigious Industry Awards

CICA Opening Session 2
March 09, 2015
The Captive Insurance Companies Association (CICA) honored the 2015 recipients of the CICA Distinguished Service Award and the CICA Outstanding Captive Award at the opening session of its 2015 International Conference in Orlando, Florida.

Ian KilpatrickIan Kilpatrick was named the recipient of the CICA 2015 Distinguished Service Award--the highest award possible in the captive insurance industry. This award recognizes individuals or organizations for significant contributions to advancing the captive insurance industry.

The British-born Mr. Kilpatrick is one of the best known and most colorful individuals in the captive insurance industry, with postings in the Bahamas, Cayman (where he spent most of his career), and the United States.

Throughout his more than 40 years in international insurance and financial operations, Mr. Kilpatrick has been an active advocate of the captive insurance industry and was recognized in the Captive Review 2012 Power 50.

In 1992, Mr. Kilpatrick founded Crusader International Group of Companies, which included captive management. In 2002, Mr. Kilpatrick expanded into the United States and formed captive management companies in South Carolina, Arizona, and Washington, DC. In 2013, he sold the majority of both the U.S. and Cayman operations but remains a director of the new company known as Advantage Insurance Holdings Ltd. He was a founder of the Insurance Managers Association of Cayman and later served on the CICA Board of Directors. More recently, Mr. Kilpatrick has served as chairman of CICA’s Task Force on Transfer Pricing and has spoken a number of times on the captive insurance industry’s response to the Organization for Economic Cooperation and Development’s (OECD) Base Erosion and Profit Shifting Report.

Three RiversThree Rivers Insurance Company was also honored as the CICA 2015 Outstanding Captive Award winner. This award recognizes a successful captive insurance company that has shown creative uses for a captive, prevailed  in difficult times, and gained a positive reputation among rating agencies, regulators, and colleagues in the captive industry.

Alcoa began its captive operations in Bermuda during the late 1970s and moved onshore in Vermont as that domicile’s eighth captive insurance company with the creation of Three Rivers in 1983. Over the years, Three Rivers moved from only insuring Alcoa’s property risk to including casualty risk and then international benefits risk. It has since expanded to insuring a vast array of Alcoa’s risk, including general liability, workers compensation, small craft, and many of its employees’ insurance needs, such as home, auto, and life insurance.

The 2015 CICA International Conference is March 8-10. 
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