Great American’s Alternative Markets division was formed in 1999. At that time, our original platform was built on Agency Captives. These relationships are formed when an agent identifies a profitable book of business and creates a reinsurance facility to underwrite a portion of the risk. Agents can potentially secure a much greater revenue flow with a captive when compared to traditional profit-sharing. The captive program also provides a high level of exclusivity, which differentiates the agent in the marketplace.
Since then, we also developed expertise in Group Captives. In a Group Captive, several larger accounts have ownership in the captive and share risk within a certain layer of coverage. It is a great vehicle for best-in-class accounts to reduce their cost of risk.
In order to support programs outside of a captive structure, we developed Elite Programs. This business focuses on creating highly exclusive relationships with agents who have developed a class specialization and a seasoned, profitable book of business.
Finally, due to the particular needs of one of our agency captives, we were the first division in the company to develop expertise and products related to Cyber Risk. In this rapidly growing operation, we not only make our own external appointments, but we have also partnered with several other Great American divisions to distribute this important coverage.
Learn more about our businesses: