Industry Hall of Fame inclusion for captive insurance 'pioneer'
A LEADING figure in the Guernsey captive insurance sector is listed in the first Hall of Fame recognising the most influential individuals in the global industry over the past 50 years.
Malcolm Cutts-Watson has spent 35 years in the captive sector in three key jurisdictions – Bermuda, Vermont, and Guernsey since 1994.
He moved to the island with the insurance giant Willis and went on to become chairman of its international captive practice – 'which involved a lot of travel' – before retiring in 2014.
In 2015 he established his own captives consultancy, which is growing and keeping him actively engaged in the industry.
Thirteen individuals 'who have shaped and driven the captive journey' have been inducted into the first Captive Review Hall of Fame. Most are from the US, but two have Guernsey connections; Mr Cutts-Watson, and former Guernsey Financial Services Commission director of insurance Alan Fleming, who was with the regulator between 2003 and 2006.
'The captive insurance industry has been blessed by innovative and forward thinkers ever since Fred Reiss set up Steel Insurance Company of America in 1953,' said Captive Review editor Richard Cutcher.
'This industry-wide Hall of Fame is the natural evolution from the increasingly popular Power 50 list that we will continue to publish every year. Once an individual graduates to the Hall of Fame, however, they are deemed beyond the reach of the Power 50 and will have permanent residence in this new exclusive club.'
The magazine said of Mr Cutts-Watson: 'A career that spans three decades and three of the leading captive insurance domiciles has given Malcolm Cutts-Watson a broad perspective on the past and a sophisticated outlook on the future of the alternative risk industry.'
