CICA 2025 Tucson, Arizona 

16 April 2025

Insights from the frontier through a Turks and Caicos lens  

Author Paul Pirie 

This year’s CICA Conference brought the global captive insurance community to the desert. Over 700 attendees, 59 exhibitors, and 72 regulators gathered in Tucson highlighting a fast-evolving space for forward-looking jurisdictions. 

Representing the Turks and Caicos Islands, Paul Pirie attended to listen, engage, and return with insights to help shape TCI into a jurisdiction of choice for innovative captive structures. 

Global Headlines, Local Relevance 

  • – CICA membership has surpassed 650 members, reflecting rising interest worldwide. 
  • – New domiciles like France are stepping up, with the UK not far behind, TCI is observing and adapting. 
  • – Japan and Hawaii are reporting strong growth, and Luxembourg will host the European Captive Association on 25 November. 
  • – EY reports that captives now account for over 25% of the global insurance market, growing 2–3% faster than traditional insurance. 

The question is no longer if captives belong in global risk management—but how jurisdictions like TCI can secure their place. 

Innovation in Focus: Tenda 

Tenda, winner of Outstanding Captive of the Year, was recognised for a healthcare solution tailored to family offices. Its expansion into property and other sectors shows how focused design can deliver flexible, efficient structures with impact. 

Keynote with Purpose: Justin Wren 

Former UFC fighter and actuary Justin Wren shared his story of resilience and recovery. His message: success is more than just numbers, it’s about purpose. 

“If you want to go far, go together.” 

A good reminder for jurisdictions like TCI shaping their future in this space. 

Real Estate Captives: A TCI Opportunity? 

Captives are finding fresh uses in real estate: 

  • – Homeowners’ associations are forming captives to underwrite property risks, offering a model that could work in Turks and Caicos, where real estate values are high and international. 
  • – Title insurance captives, with sub-5% loss ratios, show what’s possible with access to the right structures and guidance. 

Global Risk Watch: PFAS 

PFAS chemicals, found in everyday products, are being compared to asbestos in terms of legal exposure. As traditional insurers exit, specialist captives are stepping in. Jurisdictions able to respond to these new risks will gain a strong advantage. 

Industry Pulse: Key Trends and Challenges 

  • – Captives are rapidly shifting costs into structured, managed capital. 
  • – IRS scrutiny continues to affect US-focused entities. 
  • – Governance standards are under the spotlight credibility matters. 
  • – Private Equity is entering the market, while family offices seek stable alternatives. 
  • – The talent pipeline is tightening leadership succession is a concern. 

These pressures shape the strategic landscape especially for jurisdictions like TCI looking to build for the long term. 

Building Captives That Last 

Success still depends on: 

  • – An experienced Captive Manager 
  • – A responsive, well-regulated jurisdiction 
  • – The ability to adapt as needs and markets change 

TCI is working to provide this balance. 

The key takeaway?  Momentum is building. Innovation is active. With clear planning, cooperation, and sound regulation, Turks and Caicos can contribute meaningfully to this expanding sector. 

Follow tcifinance.tc and connect with us on LinkedIn for more updates on TCI’s strategy.