Recognising Excellence: Soumaya Zaouia Selected for Captive Review’s Prestigious FORTY Under 40 List

We’re proud to share that Soumaya Zaouia, who leads our Alternative Risk Transfer and Captive practice across France and Belgium, has been recognised as one of Captive Review’s FORTY Under 40 for 2026. This honour celebrates emerging leaders who are shaping the future of risk transfer and Soumaya’s nomination is a testament to her clarity, discipline and people‑first approach.

Working across two of Europe’s most dynamic markets, Soumaya plays a pivotal role in helping large corporates navigate increasingly volatile risk landscapes. She oversees portfolio performance, underwriting governance and business development in both France and Belgium, ensuring consistency in a time when stability is more valuable than ever.

Her leadership blends deep technical expertise with a thoughtful, empathetic style. Over the past year, she has strengthened underwriting standards, reinforced portfolio monitoring and brought renewed focus to sustainable, long‑term performance. For Soumaya, success starts with people who understand both the why and the how behind strategic decisions, a philosophy that’s helped her build trust across markets, teams and clients.

A Year of Transition, Growth and Shared Achievement

Reflecting on her journey, Soumaya says the past year has been “one of transition and growth.” Stepping into her expanded leadership role was both an honour and a responsibility but rather than simply taking on the title, she focused on creating stability.

Working across two countries meant navigating different expectations, ways of working and cultures. Her priority was to bring clarity to decision‑making, underwriting processes and team goals while ensuring colleagues felt supported, informed and heard.

That approach strengthened technical discipline, improved portfolio oversight and reinforced relationships with key brokers and clients. “Being recognised as a FORTY Under 40 finalist has given me a moment to pause,” she shares. “It’s reminded me that leadership isn’t about individual achievement, it’s about the collective progress you enable.”

Leading With Discipline in a Volatile Market

One of the year’s biggest challenges was balancing commercial ambition with robust technical standards, particularly in an environment marked by volatility and increased claims activity.

“In times like this, it would have been easy to prioritise short‑term growth,” she explains. “Instead, we chose discipline.”

That sometimes meant having difficult conversations around pricing adequacy, structure or appetite alignment decisions that ultimately reinforced her belief that leadership is built on consistency, not authority.

Reframing Innovation in Alternative Risk Transfer

For Soumaya, innovation isn’t always about inventing something new it’s about shifting perspectives.

Throughout the year, she worked to reposition captives and structured solutions as strategic, long‑term tools that help companies strengthen resilience and capital efficiency. Internally, this meant encouraging closer collaboration between underwriting, finance and claims; externally, it meant helping clients and brokers rethink how alternative risk transfer can support their evolving needs.

The result? Better alignment, clearer strategies and a more confident, data‑driven approach to portfolio management.

Looking Ahead: A Future Shaped by Technical Excellence and Talent Development

Over the next three to five years, Soumaya sees her role evolving toward broader strategic leadership potentially at a regional or international level as structured solutions take on an even greater role in a shifting global risk landscape.

She is especially passionate about advancing three areas:

• Strengthening technical excellence and governance
• Developing innovative, sustainable risk solutions
• Mentoring emerging talent and making the ART and captive sector more accessible to the next generation

It’s a vision that aligns closely with her belief in disciplined underwriting, thoughtful innovation and investing in people.

Making an Impact Beyond Technical Performance

Soumaya believes that professional excellence and broader industry impact go hand in hand. She actively mentors early‑career colleagues, shares knowledge on captives and ART, and advocates for greater visibility of diverse leadership role models.

“Impact isn’t always loud,” she says. “It’s built quietly, through integrity, consistency and helping people grow.”

We’re thrilled to celebrate Soumaya’s well‑deserved recognition.

Her leadership, clarity and forward‑thinking approach continue to strengthen our organisation and her influence is helping shape the future of alternative risk transfer across Europe.