ARLINGTON, Va., June 10, 2020 (GLOBE NEWSWIRE) — Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking and solutions company, today announced the launch of the Homestead Insurance Company Incorporated Cell (Homestead), a group captive solution designed for upper middle market companies. Homestead will reinsure The Hartford, which will issue admitted insurance policies to members selected for this group program.  
The program will provide companies 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 and giving members ownership of their underwriting profit otherwise retained by an insurance company. An individual member’s results will be directly related to its own loss performance along with the group’s shared experience collectively.Homestead will offer value to its members through up-front premiums that should be competitive with traditional market programs and long-term cost that will be significantly lower than traditional programs if members maintain good loss experience. In addition, the program will provide opportunities for additional savings through dividends, greater impact and efficiency in handling of claims, and control over all administrative decisions of the group program. Homestead will also add value by providing true insurance for adverse losses from The Hartford, an A+ rated insurer, and avoiding the cost and time commitment involved in either a single-parent captive or traditional group program.“I’m thrilled to expand on our current middle market solutions with Homestead,” said Jim O’Connor, head of Middle Market and Specialty Broking, Willis Towers Watson. “Homestead is another valuable risk transfer option, in addition to our industry-specific Differentiated Broking Solutions strategy, that provides unique advantages to our clients beyond standard risk transfer.”“We’re excited to partner with Willis Towers Watson on this captive solution,” said Mo Tooker, head of Middle and Large Commercial at The Hartford. “We understand the needs of midsize businesses and how critical it is to take a flexible and consistent approach in managing risk to create better economic outcomes for clients.”“In today’s uncertain insurance market, companies need a thoughtful insurance strategy customized to their needs to effectively manage risk. Homestead will provide this strong, tailored strategy for our clients,” said Joe Peiser, global head of Broking, Willis Towers Watson.To learn more or explore membership in Homestead, please contact us at Captive.Homestead@willistowerswatson.com.About Willis Towers WatsonWillis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 45,000 employees serving more than 140 countries and markets. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance. Together, we unlock potential. Learn more at willistowerswatson.com.Media contactIleana Feoli: +1 212 309 5504
[email protected]

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