Basking Ridge, NJ – Waypoint Underwriting Management LLC (“Waypoint”), a leading specialty reinsurance managing general underwriter (MGU), today announced a strategic partnership with CompSource Mutual Insurance Company (“CompSource Mutual”), a highly respected provider in the Workers’ Compensation insurance market. This MGU agreement strengthens Waypoint’s commitment to providing robust financial capacity for its ceding companies and brokers. CompSource Mutual boasts an “A” rating from AM Best and maintains a substantial surplus of $970,918,000 at the end of 2023.
Waypoint was uniquely built to craft customized reinsurance solutions that cater to the specific needs of our carrier partners. The agreement with CompSource Mutual exemplifies this commitment. Under the agreement, Waypoint will underwrite a tailored portfolio of Property, Casualty, and Workers’ Compensation Treaty Reinsurance that aligns precisely with CompSource Mutual’s risk tolerance and portfolio composition. Waypoint’s primary objective is not only to enhance portfolio diversification for both companies but also to ensure optimal performance and resilience within the dynamic reinsurance market landscape.
“I am thrilled to announce our strategic partnership with Waypoint, a collaboration that underscores CompSource Mutual’s robust financial health and forward-looking vision,” said CompSource Mutual CEO, Trey Ingram. “Our future strategy revolves around harnessing the strength of dynamic partnerships to enhance our financial resilience, expand our surplus, and diversify our revenue streams. This partnership with Waypoint is a cornerstone of that strategy, and I eagerly anticipate the positive outcomes we will achieve together.” Jason Denechaud, Managing Partner at Waypoint echoed the sentiment, stating, “CompSource Mutual’s well-deserved reputation for excellence and unwavering dedication to customer satisfaction make them an ideal partner for Waypoint. Combining Waypoint’s reinsurance expertise with CompSource Mutual’s financial strength and strategic growth objectives establishes a strong and complementary foundation for this partnership.”
”This partnership signifies the culmination of a long-standing collaborative relationship between the senior leadership teams at Waypoint and CompSource Mutual,” said Joseph Horan, Managing Partner at Waypoint. “It underscores our shared values of innovation, integrity, and unwavering commitment to client success.”
About Waypoint Underwriting Management LLC
Waypoint Underwriting Management LLC, headquartered in Basking Ridge, New Jersey, is a leading specialty reinsurance MGU operating primarily in the United States. The company offers Property, Casualty, Workers’ Compensation, and Accident & Health reinsurance solutions to insurers.
Waypoint also functions as a primary MGU for Personal Accident and Medical insurance and provides consulting services for filing, forms, and actuarial memorandums within the Accident insurance industry.
For more information about Waypoint Underwriting Management LLC and its reinsurance solutions, please visit www.waypointunderwriting.com