Last week, Guy Carpenter & Company, LLC, announced the launch of a Mutual Company Specialty Practice, which will focus exclusively on the unique needs of mutual insurance companies.

The practice will consist of a team of seasoned professionals dedicated to helping mutual company clients protect their capital and grow profitably.

According to the reinsurance broker, mutual insurance carriers companies are grappling with competitive pressures, limitations on raising capital, changes in rating agency capital models, the implementation of new regulatory and compliance guidelines such as ORSA (Own Risk and Solvency Assessment), and increased demands for actuarial services and technology-enabled modeling.

“The new practice provides solutions for all these concerns and demonstrates Guy Carpenter’s long-term commitment to this distinctive market,” said John Haldeman II, Executive Vice President of the new practice, in a statement announcing the launch.

Guy Carpenter’s Mutual Company Specialty Practice will:

  • Offer mutual company clients exclusive sources of stable capital, including Guy Carpenter’s Umbrella and Property Facultative facilities, as well as the Regional Accounts Program that allows small to medium-sized ceding insurers to purchase reinsurance at competitive terms, conditions, and prices.
  • Partner with Guy Carpenter’s Rating Advisory team to deliver integrated guidance and solutions that address all A.M. Best and Best’s Capital Adequacy Ratio matters.
  • Provide clients with BenchmaRQ, the annual, full-service economic capital modeling service that offers capital and risk assessment in response to the industry’s impending adoption of ORSA, which requires insurers to assess their current and future risk and, in turn, anticipate their potential capital needs.
  • Provide clients with the strategic advice they need for growth and profit by leveraging powerful technology-enabled analytics, the expertise of GC Securities, and innovative facultative solutions
  • Deliver advice on profitable underwriting with point-of-sale services, growth by acquisition or affiliation
  • Will provide actuarial analysis, business intelligence, and technology such as predictive analytics.

Source: Guy Carpenter & Company, LLC