Captive Business Development Manager/Consultant

We are seeking a highly motivated and collaborative professional to join our Captive Insurance Team, focused on driving new captive formation and growth opportunities across the region. This role is a key link between clients, brokers, and internal specialists, supporting the development of tailored captive solutions, managing the end-to-end sales process, and helping to expand our captive insurance business.

This role will be based in Dubai, United Arab Emirates or Riyadh, Saudi Arabia.

We will count on you to

• 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.

What you need to have

• 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.

What makes you stand out

• 5–10+ years of experience in insurance, captive consulting, broking, reinsurance, or risk management.
• 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.

Why join our team

• We help you be your best through professional development opportunities, interesting work and supportive leaders.
• We foster a vibrant and inclusive culture where you can work with talented colleagues to create new solutions and have impact for colleagues, clients and communities.
• Our scale enables us to provide a range of career opportunities, as well as benefits and rewards to enhance your well-being.

Marsh Risk is a business of Marsh (NYSE: MRSH), a global leader in risk, reinsurance and capital, people and investments, and management consulting, advising clients in 130 countries. With annual revenue of over $27 billion and more than 95,000 colleagues, Marsh helps build the confidence to thrive through the power of perspective.

For more information about Marsh Risk, visit marsh.com, or follow us on LinkedIn and X.

Marsh is committed to embracing a diverse, inclusive and flexible work environment. We aim to attract and retain the best people and embrace diversity of age, background, disability, ethnic origin, family duties, nationality, parental status, personal or social status, political affiliation, race, religion and beliefs, sex/gender, skin color, or any other characteristic protected by applicable law.

Marsh is committed to hybrid work, which includes the flexibility of working remotely and the collaboration, connections and professional development benefits of working together in the office. All Marsh colleagues are expected to be in their local office or working onsite with clients at least three days per week.

Office-based teams will identify at least one “anchor day” per week on which their full team will be together in person.