Wortham Insurance is one of the top 10 privately held insurance brokers in the U.S., and the largest broker headquartered in Texas. Wortham clientele represent a cross-section of business in Texas and beyond.
The Wortham philosophy is to bring value-added ideas to clients. As managing director of Wortham, James L Gleaves is tasked with making sure the Wortham philosophy is carried out in all areas of the firm’s practice.
Creating captives that work for clients
“We represent a number of clients whose insurable risks can be very effectively managed through a captive insurance company,” says Gleaves. “The captive insurance company structure developed by Intuitive fits well with many of our client’s overall risk management needs. We believe that the captive structure and reinsurance arrangement developed by Intuitive is very beneficial to a client who fits the necessary parameters.”
Wortham began their partnership with Intuitive due in large part to the experience that Intuitive professionals have in risk management, overall insurance coverage, and captive insurance company structuring. “We felt that the very careful approach to underwriting captive risks was crucial to our clients,” says Gleaves. “We were also very comfortable with the overall approach to managing captives demonstrated by Intuitive.”
Since the partnership between Wortham and Gleaves began, there has been a great deal of growth in captives. “The growth in captives that select the enterprise risk captive treatment is a testament to the potential economics of such an arrangement, but it takes the expertise of a manager such as Intuitive to make these arrangements successful in the long term.”