Historically, captives have been treated somewhat like a muscle, exercised intensively when insurance markets harden, but allowed to idle when conditions soften. Yet the most effective captive owners continue to develop and strengthen their programmes throughout the cycle, ensuring they are ready when market conditions inevitably turn. As we enter softer conditions, Airmic members face a familiar challenge: explaining to the C-suite why a captive strategy remains essential even when commercial rates look appealing.

Whether you are defending an existing captive, advocating for a new one or exploring the upcoming UK captive regime, you should shift the boardroom conversation away from short-term premium savings and toward long-term strategic control.