CPA Mutual ranks 15th in nation’s risk retention groups
CPA Mutual is a powerhouse in the risk retention group community.
We were ranked 15th in Captive Review's "Power 50" listing of financially powerful leaders in the market.
Here's what Captive Review had to say:
"For a small industry, the risk retention group (RRG) community certainly packs quite a punch. Indeed, rarely a month passes without an individual RRG or a group of them fighting – and invariably winning – a court battle with some state or other attempting to block them from doing business.
And they are vocal too. Either through the National Risk Retention Association, the American Risk Retention Coalition or simply high-powered representatives from the oldest and largest RRGs, the RRG industry makes itself heard loud and clear at all times, whether under attack over standards and regulation from federal agencies or campaigning for extended coverage under the Liability Risk Retention Act (LRRA).
This industry possesses a genuine sense of solidarity, which stems from the strong leadership demonstrated by the biggest and most innovative within it. Captive Review has compiled its list of the 50 most influential RRGs around – the RRG Power 50.
RRGs were ranked initially in order of financial prowess based on 2007 figures, where available, or 2006 year-end numbers (according to Risk Retention Reporter), weighted heavily toward the amount of premiums written but also incorporating assets and surplus.
A list of the most financially powerful RRGs was then presented to a panel of industry experts who nominated individual RRGs they felt should be elevated in the rankings for various subjective reasons – whether it be dominating their market sector, leading the RRG industry or giving a voice to RRGs in the regulatory arena.
Vermont was the domicile of choice for many of the highest-ranking RRGs. Healthcare accounted for some of the largest in terms of premium generation. However, it was market leaders in other industries that received most comment from the panel for their stand-out achievements and influence.
Meanwhile, Ocean (commercial vehicles), Title Industry Assurance (real estate professionals) and Automotive Underwriters Insurance (extended service contracts) were three relatively small RRGs that made the Power 50 because they are the leading alternative insurers within their respective industries.
Reprinted with permission from the May 8, 2008, issue of Captive Review.
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