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Energi Holdings, Inc. is a Delaware based holding company established in 2006 to provide risk management and insurance brokerage services to energy firms engaged in specific market segments with a wholly owned subsidiary Energi Insurance Services, Inc. (a Massachusetts Insurance Brokerage & Program Administration Company).
Mission: The mission of ENERGI is to be a market leader in targeted segments of the Energy Industry by providing an alternative insurance program that gives Energy Companies the ability to obtain long term stability for their risk management & insurance programs.
The Business: Brokerage • A unique and proven distribution model that provides a portal of direct access to valued customers for both retail and wholesale insurance business. The Company provides wholesale insurance brokerage in the U.S. for guaranteed cost insurance products of a number of leading insurance companies. As a result of its wholesaling capabilities, the Company can offer one-stop shopping for its network of appointed insurance agents and brokers and also offer other insurance programs for clients who may not qualify or may not be interested in an alternative risk program. The Company’s wholesaling capabilities and carrier relationships are also utilized to provide other lines of coverage not included in its alternative risk programs. Program Administration • The Company targets certain segments of the Energy Industry including fuel distribution, fuel transport, renewable energy, energy construction, energy excess, energy property and cooperatives. Energy Insurance Services, Inc. is a national wholesaler for several major insurance carriers and is licensed to sell insurance in all 50 states. Over the past fifteen years, the Company has developed considerable expertise in its ability to assess risk and to provide effective risk management solutions for the energy industry. As a result of this experience, the Company has developed a substantial book of energy business with loss ratios that are significantly lower than industry averages. The Company serves as the program administrator for the Energi Program. As program administrator, the Company performs the initial underwriting review & pricing and then forwards each individual risk to the insurance company for underwriting. The Company also has responsibility for product distribution, loss prevention services and claims oversight. Reinsurance • The Company plans to provide reinsurance coverage for its own programs and potentially to other insurance programs within certain segments of the energy industry. These reinsurance programs may take the form of quota-share arrangements or may mean assuming larger retentions during periods of increasing reinsurance costs when management concludes that purchasing reinsurance is no longer cost effective. The Company believes that reducing its dependence on reinsurance by increasing retentions under certain market conditions could enhance its financial results, and return on capital employed.
Results:
Company History: Since the late 1980’s, the Company and its affiliates have provided insurance brokerage services for the Energy Industry. The Company has a combined total of over 100 years of experience in the insurance industry. This vast experience in the insurance arena was critical to survive the impact on the insurance market caused by the events of September 2001. As a result, the management of EHI determined that certain key factors were imperative to focus upon. These key factors are:
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