Acrisure Re has absorbed its parent's Capital and Captives division, bringing more than 275 captives specialists across North America and Bermuda on to a single reinsurance platform.
The new unit, Acrisure Re Capital and Captives, will be led by Seth Denson (pictured above), head of captives. He reports to Simon Hedley, global CEO of the reinsurance arm of fintech group Acrisure.
The move pairs an established captive operation with specialist reinsurance broking capability. It rounds out Acrisure Re's business across three pillars: reinsurance and programs, corporate advisory through Acrisure Re Corporate Advisory and Solutions (ARCAS), and capital and captives. Global analytics and catastrophe modeling functions support the combined platform.
Close to 70% of the unit's portfolio is in US life and health (L&H), where alternative and self-insured medical plans rank among the fastest-growing corners of the US medical insurance market.
The remaining 30% is in property and casualty (P&C), which Acrisure has flagged as its next growth target. Plans there include pursuing group and single-parent captives, sourcing new opportunities, executing reinsurance placements, and generating flow for trading partners.
The division will also work with strategic issuing carriers to deliver end-to-end captive programs.
The timing tracks a wider boom. Research from Zion Market Research puts the global captive insurance market at roughly $79.10 billion in 2024, rising to a projected $120.03 billion by 2034.
More than 10,000 risk-bearing entities now operate globally, a figure Hylant's Anne Marie Towle has called an industry inflection point.
Captives are also gaining ground in renewable energy, an area Acrisure Re could tap as it expands in P&C.
Aon argues captives are increasingly used to "buy down" high deductibles on renewable assets, unlocking project financing in areas where conventional capacity is constrained.
The Acrisure Re platform is backed by segregated cell capability, designed to support capital-efficient structures for both L&H and P&C clients.
A segregated or protected cell company is a single licensed insurer split into ring-fenced cells, each with its own assets and liabilities. Buyers get captive benefits without the capital outlay of a standalone vehicle.
Hedley said Capital and Captives had "built a leading position in one of the most dynamic growth segments in the US," adding there was "a significant runway ahead" in P&C.
Denson said the business had filled gaps the market had overlooked. "We are entering this integration from a position of strength," he said.
