Guy Carpenter launches mutual practice
Broker Guy Carpenter has launched a new Mutual Company Specialty Practice, which will focus exclusively on the unique needs of mutual insurance companies.
It said the practice will consist of a team of seasoned professionals dedicated to helping mutual company clients protect their capital and grow profitably.
“Mutual insurance companies are encountering a more competitive marketplace while they seek to expand their businesses,” said Andrew Marcell, managing director and chief executive officer of US operations at Guy Carpenter.
“As the leading mutual insurance company broker in the United States with more than 300 clients, we are using our 90 years of experience working with mutual insurers to deliver products and services designed to help our clients succeed.”
Mutual insurance 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 modelling. 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 modelling that will enhance their competitive position.
“The new practice provides solutions for all these concerns and demonstrates Guy Carpenter’s long-term commitment to this distinctive market,” said John Haldeman, executive vice president of the Mutual Company Specialty Practice at Guy Carpenter.
“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.”
