Marsh Captive Solutions Expands Services with Actuarial Expertise
Marsh Captive Solutions has broadened its capabilities in Cayman by integrating actuarial services into its advisory offerings. This strategic enhancement includes the appointment of Steve Papciak as the principal actuary.
The expansion represents a collaborative effort between Marsh and Oliver Wyman, both subsidiaries of Marsh McLennan.
In this newly established position, Papciak will closely collaborate with Marsh Captive Solutions and Oliver Wyman Actuarial to deliver a suite of services. These services encompass reinsurance transactions, the formation of affiliate companies in Cayman, risk management, financial reporting and modeling, and actuarial pricing.
Steve Papciak joins the team from North End Re, where he was the actuarial vice president, optimizing capital allocations across various insurance companies and jurisdictions, with a particular emphasis on the Cayman Islands and Bermuda.
He brings a wealth of experience in working with investment management teams to evaluate the impacts of reinsurance transactions on asset-liability management and investment strategies.
Commenting on this strategic appointment, Michelle Sivanayson, the island practice leader at Marsh Captive Solutions, stated: “Actuarial insights are a vital component in evaluating the effectiveness and sustainability of captive insurance solutions.
With Steve at the helm of our new actuarial capabilities in Cayman, Marsh Captive Solutions and Oliver Wyman Actuarial will continue to empower our growing client base to manage risk proficiently and achieve their investment goals.”
David Weinsier, a partner and global actuarial Life and Health leader at Oliver Wyman, added: “By collaborating closely with Steve and Marsh Captive Solutions, we are poised to expand and elevate our top-notch actuarial presence in Cayman.
We view Cayman as a significant opportunity to serve our growing client base, both locally and those considering establishing operations on the island.”
