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Summary
Mutual insurers face intensifying pressure from catastrophe volatility, rapid technology shifts, changing customer expectations, and a more discerning reinsurance market — all while competing against carriers with different ownership structures and access to capital.
In this webinar, we’ll explore how mutuals can translate their member-first model into durable competitive advantage through disciplined underwriting, smart modernization, and clear differentiation in the marketplace. We’ll also discuss evaluating strategic options over time, including remaining mutual, mutual holding company (MHC) conversion, or demutualization.
Join our panel of experts to explore:
- Mutual performance compared to other ownership structures
- Opportunities for mutuals to differentiate
- Capital and growth options for mutuals
- Evaluating MHC conversion or demutualization
Speakers
Griffin Financial Group
Jeffrey P. Waldron
Co-Head, Insurance
Jeff Waldron is Co-Head of Griffin’s Insurance Group. With over 40 years in the financial services industry, Jeff provides investment banking services to all aspects of the insurance industry, including admitted mutual and stock carriers, surplus lines companies, reciprocals, risk retention groups and captives. He also provides investment banking services to MGAs, MGUs, wholesale and retail producers and TPAs. He has particular expertise providing financial advice to mutual companies.
Jeff’s primary focus is providing mutual and stock companies with financial advisory services relating to mergers and acquisitions and capital formation, and helping companies analyze their strategic alternatives, including the preparation of comprehensive strategic alternative studies for consideration and use by management and boards of directors.
Jeff has drafted five different demutualization laws in four different jurisdictions, and he remains an active participant in this market. He consults with carriers, state legislatures and departments regarding reforming the laws of their jurisdictions.
Jeff has been a leader in devising demutualization structures, including distribution rights conversions in which policyholders receive the surplus of the converting company and subscription rights conversions in which policyholders receive the first right to purchase stock in the converting company. Other structures include subscription rights conversions in which all policyholders can purchase stock or redeem their subscription rights, sponsored demutualizations, demutualizations with a standby investor and control conversions.
S&P Global Market Intelligence
Tim Zawacki
Insurance Sector Strategist
Tim Zawacki is a principal research analyst covering the U.S. insurance industry for S&P Global Market Intelligence.
He has covered the insurance industry in various capacities since joining SNL Financial in 1999. Based in Charlottesville, VA, Timauthors the annual US P&C Market Report,US Life and Annuity Market Report and various other thought leadership providing historical context and forward-looking outlooks regarding key industry trends and developments at the line of business level.
Tim has also published numerous articles and research on M&A activity in the property and casualty and life and health insurance sectors, focused on trends in the underwriting and distribution sides of the business.
Tim is a 1999 graduate of the University of Virginia.
S&P Global Market Intelligence
Chris Winter
Associate Director, Insurance
Chris Winter is the North America Insurance solutions lead for S&P Global Market Intelligence. In this role, Chris helps insurance clients utilize the full suite of solutions offered by S&P, such as financial data, credit risk solutions, data feeds, and more, while specializing in the NAIC Statutory and Rate Filings products. He holds a Bachelor of Arts in History and English from the University of Virginia and an MBA from the College of William & Mary.
Questions?
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