cayman captive 2019 25
AWEvans / iStock Photo
“MAINTAINING OUR CULTURE
AND CONTINUING TO PROVIDE
EXCEPTIONAL SERVICE TO OUR
CLIENTS WILL ALLOW US TO
When the property/casualty part of the business ran into problems in
the late 1980s, Hentges moved into broking—initially with a regional
broker, which was later acquired by Marsh. He worked there for four
years before being contacted by Tom Ullrich, who he had been to
university with, and who was working for Captive Resources.
“It was early days for group captives; I loved what they were doing but
I also had a young family and a dream house we had committed to.
It wasn’t the best time to move,” Hentges says.
His future employer was persistent, however, and following several
meetings with George Rusu, the co-founder of Captive Resources,
he was convinced to make the move.
“It was a big move for me to what was a small company. Back
then, there were 12 employees and the company oversaw around
$50 million in premium. But I believed in what the company
was doing—we were educating companies and attracting new
members and the business started to really grow,” he says.
His title at that point was vice president, basically responsible for two
group captives. In 1998, as the growth continued, he was chosen to
spearhead business development.
“I liked working with people and I eventually stopped working on
Infinity, one of the early group captives, to concentrate on Captive
Resources’ growth. Then, four years ago I went from heading
business development to taking a more holistic view of the company
In this role he has been responsible for the overall representation
of Captive Resources to its captives and has direct oversight of
operations including business development, administration, risk
control, claims, human resources, finance, legal, information services
Strengthening the bench
From January, he will take the role of co-chief executive, serving in
that role with Rusu, the current chairman and CEO. In addition to
operational responsibilities, Hentges will begin to focus on the
development and execution of the company’s short and long-term
strategy in his new role.
Commenting when the announcement was made, Rusu said:
“As president, Nick has presided over a period of unprecedented
growth. He has overseen numerous strategic initiatives including
business development, re-branding, organisational structure, and
risk management, as well as major improvements in the company’s
information technology infrastructure, data management, and
business process optimisation.
“His transformative leadership has helped preserve our company
culture by initiating a focus on training, job satisfaction, and employee
engagement. I’ve no doubt he will bring this same energy, managerial
skill and leadership to bear as co-CEO.”
Also effective on January 1, 2019, Mike Foley, former CEO of Zurich
North America, who joined the company’s board of directors in April
2018, will join Captive Resources as president, sharing the day-today
operational oversight of the company with Hentges.