WILLIS LAUNCHES GROUP CAPTIVE SOLUTION FOR US UPPER MIDDLE MARKET

Global broker Willis Towers Watson has launched Homestead Insurance Company Incorporated Cell as a group captive solution for upper middle-market companies in the US. Hartford Financial Services will issue admitted insurance policies to companies selected for the group programme and Homestead will in turn reinsure the Hartford policies. Willis said the programme will provide businesses “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.” The programme will also give companies ownership of their underwriting profit that would otherwise be retained by an insurer.