Empowering Women in Captive Insurance: Amplify Women's Continued Impact and Vision

Women continue to play an increasingly influential role in the captive insurance sector, yet gaps in representation, advancement, and visibility persist. Research from McKinsey & Company continues to show a notable drop-off for women between entry-level and middle-management roles in financial services—patterns that are reflected across the insurance industry and within the captive insurance community, where women remain underrepresented in senior leadership positions.

Against this backdrop, the Captive Insurance Companies Association (CICA) launched Amplify Women, a group now entering its seventh year and growing steadily. With more than 200 participants, the initiative focuses on expanding women's opportunities in speaking roles, publishing, academic collaboration, networking, and professional development. It also encourages mentorship and broader industry engagement—critical components for advancing talent across generations.

According to recent industry reporting based on data from the Insurance Information Institute (Triple-I), women make up roughly 59 percent of the US insurance workforce. Yet female representation in senior leadership remains limited, with only about one-fourth of C-suite roles held by women. While these figures reflect gradual progress, they highlight the continued need for initiatives that expand visibility, opportunity, and advancement for women across the insurance and captive sectors. One sign of momentum: 48 percent of speakers at the 2025 CICA International Conference were women, up from 46 percent in 2024 and 43 percent in 2023.

A Wide Network of Experience

Amplify Women includes professionals at every stage of their careers—from seasoned experts to those just entering the field.

Anne Marie Towle, a founding member and global captive solutions CEO at Hylant, emphasized the importance of community and advocacy. "Insurance and captives have historically been male-dominated industries, and I wanted to help create a supportive network where women can uplift one another, share insights, and build confidence as they grow in their careers," she said.

Another founding member, Rachel Moir of the International Risk Management Institute, Inc., highlighted the importance of helping women find and strengthen their voices. "Amplify Women is about more than forming a group—it's about creating an environment where women feel encouraged to participate fully and contribute their perspectives. When emerging voices are genuinely heard, the entire captive community benefits."

For Anjanette Fowler, past committee chair and managing director and senior vice president at PNC Financial Services, the group's mission resonated immediately. "Early in my career, it was hard to find female allies in the industry," she said. "Over time, women have become much more intentional about supporting one another, and that shift has had a real impact."

Professional and Personal Growth

Ms. Fowler said her involvement with Amplify Women has enriched both her career and personal development. The network provides a trusted forum for members to exchange ideas, ask questions, and learn from one another. "If you run into an informational roadblock, you have a broad network of people you can reach out to," she said. "We educate each other."

Melissa Hollingsworth, enterprise risk manager at Atlanta Housing, has also played a key role in the group's evolution. She noted the progress made and the work that remains, especially regarding representation of women—and particularly women of color—in senior leadership roles. At the 2024 World Captive Forum, she spoke about challenges such as the gender pay gap and the impact of the "pink tax," underscoring why continued collective advocacy is essential.

For newer professionals, Amplify Women provides an accessible entry point into the industry. Natalie Lemery, senior captive administrator at NFP Risk and Insurance Strategy Collective, joined the group early in her career and now serves as the chair of the social media and articles subcommittee. "Networking, mentorship, and advocacy are all critical for advancement," she said. "Amplify Women has connected me with leaders whose insights have been invaluable."

Looking Ahead

Amplify Women continues to expand its reach, with strong interest from both industry veterans and newcomers. The group has focused on university outreach, encouraging students in risk and insurance programs to consider careers in captives—a field where talent demand remains high.

"We are fortunate to have so many individuals who want to get involved," Ms. Fowler said. "Our goal is to keep creating opportunities for women to grow, connect, and succeed."

CICA President Dan Towle noted that developing a broader pipeline of diverse talent is central to the association's long-term strategy. Studies show that diverse teams tend to outperform in areas such as innovation, decision-making, and productivity. "When you have a group of talented people supporting one another, it's remarkable what can be achieved," he said. "Amplify Women helps ensure that more women have opportunities to share their expertise. It's good for conference programming, and it's good for the industry."

Originally published in Captive Insurance Company Reports (CICR) , a publication of the International Risk Management Institute (IRMI).