Capital Insurance Group
Company Overview
Capital Insurance Group (CIG) is a renowned regional property and casualty insurer headquartered in Monterey, California. Operating primarily on the West Coast of the United States and extending its reach to the Pacific Islands, the company provides insurance solutions across Arizona, California, Nevada, Oregon, and Washington. CIG is known for its solid financial foundation, holding an "A" rating from A.M. Best, which underscores its financial strength and stability. Established in 1898, CIG has built a significant history within the insurance industry.
Leadership Team
- Jeremy Norton
- Position: Group Chief Executive Officer
- Background: Leading CIG since September 2021, Jeremy Norton has over 20 years of experience in the insurance sector, both locally in Papua New Guinea and internationally. He previously served as Group COO at CIG and Regional General Manager for Tower Insurance Pacific.
- Tichaona Mukandi
- Position: Group Chief Financial Officer
- Background: A Chartered Accountant with comprehensive experience in technical accounting and finance operations. Mukandi joined CIG as Group CFO in June 2021. His prior role was Audit Director at Deloitte in Papua New Guinea.
- David Ariff Chan
- Position: Chief Executive Officer, Capital Insurance Limited
- Background: Oversees operations in Fiji, Vanuatu, and Tonga, focusing on strategic growth in the Pacific markets. His career spans over 25 years in various insurance firms across the Asia Pacific.
- Richard Goswell
- Position: Group Chief Operating Officer
- Background: With extensive experience in underwriting and risk management, Richard Goswell was appointed as COO effective February 2024.
- Sena Bakar
- Position: Executive General Manager Governance & Company Secretary
- Background: Bringing experience as a corporate lawyer, Sena Bakar joined CIG in 2023, excelling in governance and compliance.
- Mona-Lisa Paul
- Position: Group Head of Claims Strategy & Performance
- Background: With 13 years in claims management, she's focused on claims strategy and process optimization. Holds designations from ANZIIF.
- Simbarashe Zhou
- Position: Group Financial Controller
- Background: Known for his expertise in insurance and auditing, Zhou previously held positions at QBE Insurance and KPMG PNG.
Financial Overview
- Estimated Annual Revenue: $157.6 million
- Revenue Per Employee: $275,000
- Employee Count: 573
Strategic Focus
1. Regional Presence: The company maintains its strong regional presence not only in the Western U.S. but also in the Pacific Islands.
2. Leadership Expertise: The executive team, comprising seasoned professionals, is adept at guiding the company through complex industry dynamics.
3. Growth and Innovation: Under Jeremy Norton’s leadership, CIG is positioned for growth, emphasizing technological innovations and strategic market expansions.
Community and Client Engagement
CIG positions itself as a community-centric organization, partnering with local Independent Insurance Advisors to enhance its service offerings and build lasting relationships with clients. The company’s commitment to comprehensive service, coupled with professional advice and responsive support, enhances client retention and satisfaction.
Competitors
The competitive landscape for CIG includes:
- High Street Insurance Partners
- The Hartford
- Berkshire Hathaway Homestate Companies
- American Family Insurance
- Chubb
CIG also identifies smaller but potentially disruptive entrants like B.H. Gold Insurance Agency, Placer Insurance Agency, and Polley Insurance and Risk Management, known for personalized services and strong client partnerships.
Strategic Insights
CIG leverages its community involvement and strong client service as key competitive advantages. Its focus on strategic regional expansion and innovative service offerings is crucial to contend with large competitors like The Hartford and Berkshire Hathaway Homestate Companies. By sustaining its robust financial performance, CIG is well-equipped to explore new markets and fortify its market position.
Social Media Profiles
Maintaining strong communication channels, CIG actively engages with clients and stakeholders via various social media platforms to promote transparency and foster engagement.
