Guy Carpenter & Co., LLC, a global risk and reinsurance specialist and member of Marsh & McLennan Cos. have launched Mutual Company Specialty Practice which will focus exclusively on the needs of mutual insurance companies. The practice will consist of a specialist team to help mutual company clients protect their capital and grow profitably.
Andrew Marcell, managing director and chief executive officer of U.S. operations at Guy Carpenter says 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 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 Mutual Company Specialty Practice offers clients insight into the challenges now confronting them. The practice will offer them 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 guidance and products that address all A.M. Best and Best’s Capital Adequacy Ratio matters. The practice will 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.
The practice will deliver 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 these services to all clients and will provide actuarial analysis, business intelligence, as well as technology such as predictive analytics.
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