Guy Carpenter & Company has launched a mutual company specialty practice that will focus solely on the unique needs of mutual insurance companies.
Mutual insurance companies are currently faced with competitive pressures, limitations on raising capital, changes in rating agency capital models, the implementation of new regulatory and compliance guidelines, and increased demands for actuarial services and technology-enabled modelling, according to Guy Carpenter.
As a result, mutual insurers are seeking superior strategic insight into profitable underwriting, portfolio management, access to capital markets, as well as predictive and risk modeling that will enhance their competitive position.
Guy Carpenter's new practice will offer clients exclusive sources of stable capital, including the firm's own Umbrella and Property Facultative facilities, as well as the Regional Accounts Program (RAP) that allows small to medium-sized ceding insurers to purchase reinsurance at competitive terms, conditions, and prices.
The practice will also partner with Guy Carpenter’s rating advisory team to deliver integrated guidance and solutions that address all A.M. Best’s capital adequacy ratio matters.
“Mutual insurance companies are encountering a more competitive marketplace while they seek to expand their businesses,” said Andrew Marcell, managing director and CEO of US operations at Guy Carpenter.
John Haldeman II, executive vice president of the mutual company specialty practice at Guy Carpenter, added: “The new practice provides solutions for all these concerns and demonstrates Guy Carpenter’s long-term commitment to this distinctive market.”
“The members of our practice will provide an unparalleled depth and breadth of knowledge about the market and deliver Guy Carpenter’s full suite of state-of-the-art products and solutions to clients who are seeking new avenues of growth and profitability.”
