Reinsurance broker Guy Carpenter & Co. has launched Mutual Company Specialty Practice, which will provide underwriting insight, portfolio management and predictive and risk modeling solely for mutual insurance companies.
“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, in a statement.
Guy Carpenter, which says it is the leading mutual insurance company broker in the U.S., lists competitive pressures, limitations on raising capital, changes in rating agency capital models, the implementation of new regulatory and compliance guidelines such as the Own Risk and Solvency Assessment (ORSA), and increased demands for actuarial services and technology-enabled modeling as some of the challenges facing mutual insurers today.
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