Perrysburg, OH – Equilibrium Insurance Partners, L.L.C., a Perrysburg based property and casualty insurance brokerage achieved strong Q1 2024 results with $167,173.00 of new Direct Written Premium (DWP). Ten new clients were added, four commercial lines and six personal lines clients.
New commercial lines premium totaled $153,258. Wisconsin-based West Bend Insurance Company led the way with all of our commercial wins this quarter. One new towing client, one new hotel client, and two new daycare clients were added. Three of the new wins were in Ohio, one in Michigan. This strong quarter helped us surpass $250,000 in total premium with West Bend.
We are also eager to share that we’ve accepted a new partnership with Hanover Insurance Group ($THG) for commercial lines effective February 1st, 2024. Hanover will help us expand into the middle market space and allow us to better serve those in construction, manufacturing, life sciences, information technology, and cybersecurity.
From a personal lines perspective, Michigan-based Frankenmuth Mutual Insurance Company led the way with all five wins totaling $13,915 of new DWP. Five of the six new clients were in Michigan, one in Ohio.
The current state of the insurance marketplace has allowed Equilibrium to get several business opportunities. The insurance industry is in a hard-market, arguably the worst one in over 40 years, and that has made business owners more receptive to getting a second opinion on their current insurance program. “The insurance industry continues to face macroeconomic challenges, including a significant uptick in both CAT frequency and severity claims,” said MacGregor C. Howey, Founder of Equilibrium Insurance Partners. Mac continued, “Even in non-CAT states like Ohio and Michigan – where the majority of our clients reside – there continues to be a surge in property claims, notably both freezing and wind-related losses.”
Equilibrium Insurance Partners is approaching a half of a million dollars in premium and one more strong quarter will get us there. If you are interested in getting a second opinion on your insurance program, whether home, auto, or business, please reach out. For insurance quote requests/due diligence in Greater Toledo and Metro Detroit, please call 419-386-0870. For insurance quote requests/due diligence in Petoskey, please call 231-758-5271. Additionally, you may contact us here.
About Equilibrium: Established in 2022, Equilibrium Insurance Partners is a property and casualty digital insurance agency. Based behind the founding principal of the Equilibrium Insurance Point, Equilibrium’s job is to find each client’s balancing point, that is, where price and coverage intersect. Some insurance consumers are more price conscious, while others are more coverage conscious. At Equilibrium, it’s our job to figure out which type of consumer you are and tailor an insurance program to fit your individual or business’ needs.
