Howden Names Philip Stack to Lead US Alternative Risk Practice

Howden has appointed Philip Stack as managing director of alternative risk and captive insurance for its US business, expanding its advisory capabilities as demand for alternative risk transfer strategies grows.

In the role, Mr. Stack will advise clients on insurance program structures and alternative risk transfer strategies, including captives, multiyear structured programs, parametric solutions, and fronting placements. He will report to Julie Layton and work closely with John Rowson.

Mr. Stack joins Howden from Lockton, where he served as senior vice president and senior consultant on the firm's Alternative Risk Solutions team for nearly 6 years. In that role, he worked with clients on a range of alternative risk strategies. Before Lockton, Stack spent 16 years at Marsh, including 6 years on the firm's Captive Solutions advisory team.

"US [captive insurance] growth is accelerating as the market responds to demand for solutions to emerging risks such as cyber liability, directors and officers, and trade credit, as well as the use of parametrics for catastrophe risks," Julie Layton, executive managing director at Howden US, said.

"The captive market is expanding beyond corporates with big balance sheets and international risk footprints to be a powerful solution for midmarket companies who want more control over their risks, and that are designed to scale to their size and risk appetite," John Rowson, managing director at Howden Captive Services, said.

"I'm delighted to be part of the team at Howden at this pivotal moment, as it builds a different sort of business with an entrepreneurial culture where talent is empowered to do their very best for clients," Mr. Stack said.