“Our traditional excess of loss program had stopped working for us. Pricing had become prohibitive, and the coverage we were getting in return was minimal. What set NPRe apart from the start was their willingness to sit down, talk through our business plan, and build a program that could work for both of us. It was never a ‘here are the terms, take it or leave it’ conversation.
That willingness to listen has defined the relationship. We bring NPRe different ideas, and while not all of them get implemented, they are always heard. From day one, NPRe has acted as a true partner, understanding that if we succeed over the long run, they succeed too. The relationship has continued to grow and solidify, and their responsiveness has improved significantly over time. Most importantly, our claims have always been paid, and that is the foundation of any reinsurance relationship.
NPRe’s support made a real difference during the recent capacity crunch. They were willing to offer a large quota share contract to start our relationship.
SWUS has a unique structure: a group of mutuals that are financially solid together, though individually some face more pressure. The quota share we developed with NPRe has allowed us to grow and bring more mutuals into the group. We started with three, now have six, and hope to welcome a seventh this year.
It has also allowed us to focus on our operations during a challenging period. Over the last few years, our combined ratio has improved from 123% to 96%, and our contract with NPRe has been part of that progress.
To any insurer considering NPRe as a long-term partner: if you can establish the right partnership and mutual understanding, NPRe can be exactly what you’re looking for in a reinsurance partner.”