Wisconsin Reinsurance Corporation · Madison, WI United States
Company Description
Phone: 608-242-4500
Fax: 608-242-4514
Toll Free: 800-939-9473
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This link will open in a new window Wisconsin Reinsurance Corporation offers property/casualty reinsurance coverage and services for mutual insurance companies. Its product lines include homeowners, farmowners, and commercial policies. The company's WRC Agency division provides brokerage services, and Wisconsin Adjusting Service offers liability claims adjustment services. Other subsidiaries include WRC Systems (software for insurers) and 1st Auto & Casualty (personal and farm automobile policies). In addition to serving insurers in Wisconsin, the company is active in Arkansas, Iowa, and South Dakota. Wisconsin Reinsurance Corporation was founded in 1931. To read the full description, subscribe now.
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Key Wisconsin Reinsurance Corporation Financials
| Company Type | Private Headquarters |
| Fiscal Year-End | December |
| Annual Sales (mil.) | $33.8 |
| Employees | 65 |
Wisconsin Reinsurance Corporation Executives
7 executives listed for Wisconsin Reinsurance Corporation's Madison, WI location.
| Title | Name & Bio | Contact |
| President and CEO | Terry Wendorff | Network |
| SVP Internal Operations; CEO, 1st Auto Insurance | Cathy McAnaugh | Network |
| VP Finance | Ann Carlson | Network |
Competition
Competitive Landscape for Wisconsin Reinsurance Corporation
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 Wisconsin Reinsurance Corporation Competitors
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