CICA Honors Ward Ching, Hyatt with Top Captive Industry Awards

The Captive Insurance Companies Association (CICA) recognized two leaders in the captive insurance sector during its annual International Conference, presenting its 2026 Distinguished Service Award to Ward Ching and its 2026 Outstanding Captive Award to Hyatt¹. 

The Distinguished Service Award is presented annually, when appropriate, to an individual or organization that has made a significant contribution to advancing the captive insurance industry. 

Mr. Ching, chief client officer of global risk finance at Aon Commercial Risk, has worked across the global risk finance and insurance sector since 1978. He is a frequent author and speaker on strategic and enterprise risk management, the use of artificial intelligence–empowered analytics, and structured risk finance. Mr. Ching recently co-authored the book Strategy and Choice and serves as an adjunct professor of management at the University of Southern California's Marshall School of Business, where he teaches undergraduate courses in insurance and risk management. 

Throughout his career, Mr. Ching has focused on the strategic use of captive insurers, integrating captives with corporate strategy, risk finance, reinsurance, and alternative risk transfer. He has been involved in the formation of numerous captives and played a role in the development of Hawaii as a captive domicile. He was also part of the ACE and XL design teams in the early 1980s. 

"When I see the list of past recipients, I know this is an incredible honor," Mr. Ching said. "Working at a University, I believe in equipping the next generation of captive leaders. I hope to encourage them by showing what impact you can make when you commit yourself to developing your skills and make intentional industry connections." 

CICA also presented its 2026 Outstanding Captive Award to Hyatt, recognizing the hospitality company's captive insurance program. This award is given to a captive insurer or risk retention group that demonstrates creative uses of a captive, strong management results, resilience during challenging periods, and recognition among rating agencies, regulators, and industry peers. 

Hyatt operates more than 1,500 properties across 83 countries and established its captive in 2013. The company has used the captive as a strategic tool to deliver insurance solutions while managing risk across its global operations. Initially created to cover liability and property exposures, the captive's scope has expanded over time, including supporting employee benefits programs. 

Hyatt also works with external experts for independent evaluations of its captive program to ensure it operates at industry standards and continues to align with the company's evolving risk profile. 

"Hyatt's global risk management team brings deep technical expertise, but more importantly, they bring a growth mindset and a cross-functional approach to collaboration," Jennifer Pack, vice president of global risk management at Hyatt, said. "This award reflects their commitment to thinking boldly and operating strategically every single day." 

Footnote:

1. The term "Hyatt" is used for convenience in this article to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.