CICA Names Prabal Lakhanpal as Board Chair for 2026–2027

Prabal Lakhanpal, senior vice president at Spring Consulting Group, an Alera Group Company, has been elected chair of the board of directors of the Captive Insurance Companies Association (CICA).

Mr. Lakhanpal joined CICA in 2018 and helped launch the organization's NEXTGen program, where he also served as chair. At Spring Consulting Group, where he has worked since 2015, he leads initiatives for some of the largest employers in the United States, focusing on employee benefits, captive insurance, and alternative risk funding strategies.

Throughout his career, Mr. Lakhanpal has held finance and operational roles internationally. His industry recognition includes the Emerging Talent Award for Service Professionals from Captive Review in 2019, inclusion on the Captive Review Power 50 list, and selection to the Captive International Forty Under 40 list in 2025. He was also named a Power Broker by Risk & Insurance magazine for his contributions to the captive insurance sector.

"CICA has been an incredibly rewarding professional community for me. What I appreciate most about being a member is the collaborative spirit and shared commitment to advancing the captive industry," Mr. Lakhanpal said.

He continued, "The relationships, mentorship, and educational opportunities CICA fosters truly set it apart. As chair, I'm looking forward to working with our board and volunteer leaders to further strengthen member engagement, enhance our educational offerings, and continue elevating the voice of captives.

"CICA remains an essential association in today's environment. As captives become an increasingly strategic component of enterprise risk management, having a strong, unified organization that supports advocacy, innovation, and best practices is more important than ever."

CICA also announced new officers for the 2026–2027 term. Anjanette Fowler, managing director and senior vice president for the insurance and specialized industries group at PNC Institutional Asset Management, was elected vice chair. Cheryl Baker, vice president of enterprise risk management at IFO Group, will serve as secretary-treasurer. Heather McClure, managing partner at Helio Risk LLC, will continue on the board as immediate past chair.

Returning board members include David Beyer, director of risk management at Alaska Airlines; Melissa Hollingsworth, chief deputy officer of risk management at Los Angeles Unified School District; Udo Kappes, head of insurance at RWE AG in Germany; and Adam Miholic, vice president and head of captives and procurement at Revantage.

New members joining the board are Karen Hsi Van't Hul, executive director of captive insurance programs at the University of California; Aileen Krehbiel, manager of the captive insurance program at Deere & Company; and Joshua Reding, director of risk management at LifeTime Fitness.

CICA board members are pictured above. (Courtesy photo)