CastlePoint Holdings, Ltd. · Hamilton Bermuda
Company Description
View CastlePoint Holdings, Ltd. Locations On A US Map
This link will open in a new window
This link will open in a new window Through its operating subsidiaries, CastlePoint Holdings offers reinsurance and risk-sharing arrangements to small insurance companies that underwrite commercial and personal property/casualty lines. Primary subsidiary CastlePoint Reinsurance (CastlePoint Re), domiciled in Bermuda, offers traditional quota share reinsurance. The company also enters into risk-sharing agreements with small insurance companies; the agreements are reinsurance alternatives in which CastlePoint and its clients share premiums and losses. Most of its premium revenue comes from parent company Tower Group , which sponsored the company's formation in 2005. CastlePoint became a wholly owned subsidiary of Tower Group in 2009. To read the full description, subscribe now.
Call Now at 866-464-3202 or Click here for a Free Hoover's Trial!
Key CastlePoint Holdings, Ltd. Financials
| Company Type | Subsidiary Single Location |
| Fiscal Year-End | December |
CastlePoint Holdings, Ltd. Executives
10 executives listed for CastlePoint Holdings, Ltd.'s Hamilton, location.
| Title | Name & Bio | Contact |
| Chairman and CEO; CEO, CastlePoint Management and CastlePoint Insurance | Michael Lee | Network |
| President and Director; President, CastlePoint Management and CastlePoint Insurance | Gregory Doyle | Network |
| SVP and CFO; SVP and CFO, CastlePoint Re, CastlePoint Management, and CastlePoint Insurance | Joel Weiner | Network |
Competition
Competitive Landscape for CastlePoint Holdings, Ltd.
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top CastlePoint Holdings, Ltd. Competitors
Call Now at 866-464-3202 or Click here for a Free Hoover's Trial!