Guy Carpenter & Company, LLC, the leading global risk and reinsurance specialist and member of Marsh & McLennan Companies, today announced the launch of its new 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.
"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 U.S. 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 modeling. 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.
"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 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."
Guy Carpenter's Mutual Company Specialty Practice offers clients exceptional insight into the challenges now confronting them. The practice will offer them exclusive sources of stable capital, including Guy Carpenter's 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 and Best's Capital Adequacy Ratio matters. The practice will also provide clients with BenchmaRQTM, 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.
Leveraging powerful technology-enabled analytics, the expertise of GC Securities* and innovative facultative solutions, Guy Carpenter's Mutual Company Specialty Practice is uniquely positioned to provide clients with the strategic advice they need to reach their full growth and profit potential. The practice delivers advice on profitable underwriting with point-of-sale services, growth by acquisition or affiliation, efficient use of capital/enterprise risk management, and rating agency and regulatory issues. The practice will also work in collaboration with the company's account teams to deliver this specialized expertise to all clients and will provide actuarial analysis, business intelligence, as well as leading-edge technology, including predictive analytics.