Safety National Company Profile

Background

Safety National is a leading specialty insurance and reinsurance provider, established in 1942 and headquartered in St. Louis, Missouri. With over 80 years of expertise, the company specializes in offering long-term solutions to its clients, focusing on excess workers' compensation, large casualty, loss portfolio transfers, and reinsurance. As a member of the Tokio Marine Group, Safety National benefits from the financial strength and global reach of one of the world's top ten insurance groups.

Key Strategic Focus

Safety National's strategic focus centers on providing specialized insurance and reinsurance solutions tailored to large commercial and public entity clients. The company emphasizes flexible program design, unique claims proficiency, and a relationship-driven customer service approach. By leveraging its deep industry expertise, Safety National aims to deliver customized risk solutions that address the specific needs of its clients.

Financials and Funding

As of November 2024, Safety National reported total assets of $13.85 billion and capital of $4.19 billion. The company achieved net premiums of $1.55 billion and a net income of $333.05 million. These figures reflect the company's strong financial position and consistent profitability.

Technological Platform and Innovation

Safety National has embraced technological advancements to enhance its service offerings. In September 2022, the company partnered with Aclaimant, a proactive Risk Management Information System (RMIS) platform, to provide select customers with data-driven insights aimed at improving risk management outcomes. This collaboration underscores Safety National's commitment to leveraging technology for better client service.

Leadership Team

Safety National's leadership team comprises experienced professionals dedicated to the company's growth and client satisfaction:

Mark Wilhelm: Executive Chairman

Duane Hercules: Chief Executive Officer

Gus Aivaliotis: Deputy Chief Executive Officer

Cyndee Morton: President

Nick Kriegel: Chief Operating Officer

Tom Grove: Chief Client Officer

These leaders bring a wealth of experience and strategic vision to the company, ensuring its continued success in the specialty insurance market.

Leadership Changes

In January 2025, Safety National announced significant changes to its executive management structure, effective April 1, 2025:

John Csik: Retired from his role as President and transitioned to Executive Advisor.

Gus Aivaliotis: Promoted to Deputy Chief Executive Officer.

Cyndee Morton: Advanced to President.

Nick Kriegel: Appointed as Chief Operating Officer.

These changes are part of a broader organizational realignment to support the company's growth and strategic objectives.

Competitor Profile

Market Insights and Dynamics

The specialty insurance and reinsurance market is characterized by its focus on providing tailored risk solutions to large commercial and public entity clients. This sector demands deep industry expertise, flexible program design, and strong financial backing to address complex risk scenarios effectively.

Competitor Analysis

Safety National faces competition from several key players in the specialty insurance and reinsurance market:

Argo Group: Founded in 1957 and headquartered in Pembroke, Argo Group offers a range of insurance products and services, including specialty insurance solutions. The company generates approximately 123% of Safety National's revenue.

Berkshire Hathaway Specialty Insurance (BHSI): Established in 2013 and based in Boston, Massachusetts, BHSI provides commercial property, casualty, healthcare, and executive and professional lines insurance. The company has approximately 250 fewer employees than Safety National.

Starr Insurance Companies: Led by Chairman and CEO Maurice R. Greenberg, Starr offers a comprehensive range of insurance products, including property, casualty, and accident and health insurance. The company operates globally and competes directly with Safety National in various specialty lines.

Strategic Collaborations and Partnerships

Safety National has engaged in strategic partnerships to enhance its service offerings:

Aclaimant Partnership: In September 2022, Safety National partnered with Aclaimant to provide select customers with data-driven insights aimed at improving risk management outcomes.

Midlands Management Corporation Acquisition: In January 2019, Safety National acquired Midlands Management Corporation, an Oklahoma City-based managing general agent specializing in excess workers' compensation. This acquisition expanded Safety National's capabilities and market reach.

Operational Insights

Safety National's strategic considerations include:

Market Position: As a member of the Tokio Marine Group, Safety National leverages its strong financial backing and global resources to maintain a competitive edge.

Competitive Advantages: The company's focus on specialized expertise, flexible program design, and unique claims proficiency differentiates it from competitors.