Willis Towers Watson partners with The Hartford on captive solution
Broker Willis Towers Watson has launched a group captive solution designed for upper middle market companies. The new solution will reinsure The Hartford, a US property/casualty insurance group.
WTW's Homestead Insurance Company Incorporated Cell will issue admitted insurance policies to members selected for this group programme.
The programme promises to provide companies “a better and more cost-efficient way to purchase insurance over a five-to-10-year period, while eliminating the peaks and valleys of the standard market and giving members ownership of their underwriting profit otherwise retained by an insurance company.”
“I’m thrilled to expand on our current middle market solutions with Homestead,” said Jim O’Connor, head of Middle Market and Specialty Broking, Willis Towers Watson. “Homestead is another valuable risk transfer option, in addition to our industry-specific Differentiated Broking Solutions strategy, that provides unique advantages to our clients beyond standard risk transfer.”
Mo Tooker, head of middle and large commercial at The Hartford, said: “We’re excited to partner with Willis Towers Watson on this captive solution. We understand the needs of midsize businesses and how critical it is to take a flexible and consistent approach in managing risk to create better economic outcomes for clients.”
Joe Peiser, global head of Broking, Willis Towers Watson, added: “In today’s uncertain insurance market, companies need a thoughtful insurance strategy customized to their needs to effectively manage risk. Homestead will provide this strong, tailored strategy for our clients.”
