Captive Business Development Manager/Consultant📣 Job Ad

About the Role

Marsh Risk is seeking a Captive Business Development Manager/Consultant to join its Captive Insurance Team. This full-time role, based in Riyadh, Saudi Arabia, focuses on driving new captive formation and growth opportunities across the region. The successful candidate will serve as a key link between clients, brokers, and internal specialists, supporting the development of tailored captive solutions and managing the end-to-end sales process to expand the captive insurance business. This position requires 5-10 years of relevant experience.

Key Responsibilities

• Originate and develop new captive business opportunities by prospecting insureds, brokers, and advisors, and building a strong pipeline.
• Advise clients on captive suitability, business case economics, and risk retention strategies in collaboration with actuarial, underwriting, and broking teams.
• Prepare and present captive solution proposals, financing alternatives, and strategic recommendations to clients and internal stakeholders.
• Manage the sales process end to end, including RFPs, term sheets, negotiations, and internal approvals.
• Build and maintain strong relationships with brokers, consultants, TPAs, reinsurers, captive managers, and other key market participants.
• Collaborate with global specialist teams, including actuarial, claims, tax, and legal colleagues, to ensure technical accuracy and readiness of deliverables.
• Support senior management in defining and executing growth strategies for the captive insurance business, including market positioning and pricing approach.
• Assist local domicile colleagues and the consulting team with the onboarding and end-to-end captive formation process, including regulatory approval, documentation, and ongoing management.

Qualifications and Experience

• 5–10+ years of experience in insurance, captive consulting, broking, reinsurance, or risk management.
• Strong knowledge of captive insurance structures, including pure captives, group captives, rent-a-captives, and cell structures.
• Proven commercial and financial acumen, with the ability to develop business cases, assess P&L impacts, and understand cash flow and capital considerations.
• Experience in sales, business development, negotiation, deal structuring, and relationship management.
• Good technical understanding of underwriting, reinsurance, loss funding, and claims analysis.
• Excellent communication and presentation skills, with the confidence to engage senior stakeholders, C-suite leaders, and Boards.
• Strong project management skills and the ability to coordinate multi-disciplinary teams effectively.
• Awareness of regulatory and tax considerations relevant to captive domiciles.
• Willingness and flexibility to travel and represent the firm at industry events.

Preferred Skills and Education

• Direct experience in captive formation, renewal, or advisory work.
• Experience working with brokers, captive managers, and multiple domiciles.
• MBA, master’s degree, or professional qualifications such as CPCU, ACII, ARe, CIRM, or captive-specific certifications.
• Strong Excel modelling skills and familiarity with actuarial models and pricing tools.
• Proficiency with CRM systems such as Salesforce.
• Experience working with transaction documentation, term sheets, and RFP templates.

About Marsh Risk

Marsh Risk is a business of Marsh (NYSE: MRSH), a global leader in risk, reinsurance, capital, people and investments, and management consulting. Marsh advises clients in 130 countries, with annual revenue exceeding $27 billion and a team of over 95,000 colleagues. The firm is dedicated to building confidence through the power of perspective. More information about Marsh Risk is available on ******, LinkedIn, and X.

Work Environment and Culture

Marsh is committed to fostering a diverse, inclusive, and flexible work environment, aiming to attract and retain top talent by embracing diversity across various characteristics protected by applicable law. The company supports a hybrid work model, offering the flexibility of remote work alongside the benefits of in-office collaboration and professional development. All Marsh colleagues are expected to be in their local office or working onsite with clients at least three days per week, with office-based teams identifying at least one "anchor day" for in-person team presence. Qualified candidates are encouraged to apply.