Energi's mission is to be the leading provider of specialized insurance and risk management solutions that target specific segments of the energy industry and fulfill our clients needs.
Energi is committed to understand our client's business, exceed expectations, and to employ our vision, innovation, expertise, and teamwork to create and provide premier insurance programs.
Energi, Inc. (formerly Energi Holdings, Inc.) serves as the holding company for the organization. Energi, Inc. was incorporated in Delaware in November 2005 and commenced operations in June 2006. Our headquarters are located at 10 Centennial Drive, Peabody, Massachusetts 01960.
Energi Insurance Services, Inc.
Energi Insurance Services, Inc. (“EIS”) is an insurance agency licensed to conduct business in all 50 states and Puerto Rico and incorporated in Massachusetts. We formed EIS in conjunction with our acquisition of the assets of Conifer Insurance Agency, Inc. in 2008. As administrator of our insurance programs in the United States, EIS performs services on behalf of our third-party insurance carrier partners. These services include product development, marketing and sales, risk selection, initial underwriting, safety and loss prevention, and claims management.
Energi RE, LLC.
Energi RE, LLC (“Energi RE”) is an unrated series LLC captive reinsurance company incorporated in Delaware. We formed and capitalized Energi RE in September 2010. Energi RE currently assumes a portion of the of the risk we produce through our core insurance programs in the United States via a retrocession agreement.
Energi of Canada, Ltd.
Energi of Canada, Ltd. (“Energi Canada”) is an insurance agency based in Toronto, Canada that is licensed to conduct business in Canada’s Ontario, New Brunswick and Prince Edward Island provinces. We have applied for licenses in all provinces and are awaiting approvals. We formed Energi Canada in August 2011. As administrator of our insurance programs in Canada, Energi Canada performs services on behalf of our third-party insurance carrier partners. These services include product development, marketing and sales, risk selection, initial underwriting, safety and loss prevention, and claims management.
Hurst Holme, Ltd.
Energi, Inc. has interest, through ownership of preferred shares, in two segregated cell reinsurance companies (the “Separate Accounts”) within the rent-a-captive facility of Hurst Holme Insurance Company Limited (“HHIC”), a segregated accounts company domiciled in Bermuda. HHIC established these Separate Accounts on our behalf so we could assume a portion of the premiums we produced through our core insurance programs in the United States via reinsurance arrangements with third-party insurance carriers. Effective January 1, 2012, these Separate Accounts ceased assuming new business.
We are a leading provider of specialized insurance programs to targeted sectors of the energy industry in the United States and Canada. Our core insurance programs provide traditional property and casualty insurance coverage and related risk management services to companies operating in certain sectors of the energy industry. Our specialized insurance risk management expertise in the energy sector enables us to provide differentiated safety and loss prevention solutions and claims management services. We believe our suite of risk management solutions reduces the long-term loss costs for our clients and enhances their productivity over the long term. We launched a new business segment (Alternative Energy Solutions or “AES”) in 2010, which provides innovative warranty coverage’s for alternative energy products and installations. Our AES business segment is in early stages of development and does not currently represent a material contribution to the overall profitability of the Company.Our business model has two primary components:
- We generate fee income for services we provide for our third-party insurance partners as an administrator of various insurance programs. These services include product development, marketing and sales, risk selection, initial underwriting, safety and loss prevention, and claims management; and
- We generate underwriting income and investment income by providing reinsurance on a portion of the casualty business placed through our core insurance programs.