UFG Insurance is pleased to announce its program management agreement with Waypoint Underwriting Management LLC. This new agreement with Waypoint is part of UFG’s previously announced plans to expand its assumed reinsurance business.
Based in Basking Ridge, New Jersey, Waypoint is a specialty reinsurance managing general underwriter operating primarily in the United States, offering P&C and A&H solutions to insurers. Effective November 1, 2020, Waypoint will underwrite and manage workers comp reinsurance on behalf of United Fire & Casualty Company.
UFG’s Vice President and Chief Risk Officer Micah Woolstenhulme is leading the company’s assumed reinsurance expansion efforts. “UFG is excited to announce our new partnership with Waypoint to offer capacity to the workers compensation reinsurance market,” said Woolstenhulme. “Waypoint’s deep experience in this line of business aligns with our portfolio diversification strategy, enabling us to successfully broaden our revenue stream for effective risk management.”
Waypoint Managing Partner Joseph Horan commented, “I am excited Waypoint is able to continue enhancing the reinsurance solutions available to our cedents with the welcome addition of UFG as a capacity partner. Our client focus and technical underwriting combine to make Waypoint an ideal partner to help insurers manage their workers comp exposure.”
“Adding to our product offering with such a highly respected partner as UFG highlights our commitment to bringing meaningful reinsurance capacity to our clients,” added Waypoint Managing Partner Jason Denechaud.
Founded in 1946 as United Fire & Casualty Company, United Fire Group, Inc. (UFG, Nasdaq: UFCS), through its insurance company subsidiaries, is engaged in the business of writing property and casualty insurance.
Through our subsidiaries, we are licensed as a property and casualty insurer in 49 states, plus the District of Columbia, and we are represented by approximately 1,000 independent agencies. A.M. Best Company assigns a rating of “A” (Excellent) for members of the United Fire & Casualty Group.
About Waypoint Underwriting Management, LLC
Based in Basking Ridge, New Jersey, Waypoint Underwriting Management, LLC is a specialty reinsurance managing general underwriter (MGU) operating primarily in the United States, offering Property, Casualty, Workers Compensation and reinsurance solutions to insurers. Waypoint also acts as a primary MGU for Personal Accident insurance and a consultant for filing, forms and actuarial memos in the Accident insurance space.