MAC Casualty Ltd. was created from the need of businesses to obtain insurance coverage at a more affordable cost. The founding members of MAC Casualty Ltd. perceived that the commercial insurance industry was not responsive to this basic business necessity.
MAC Casualty Ltd. was formed in 1996. With the assistance of Captive Resources, the original members of MAC Casualty Ltd. sought to create a more customized, affordable insurance alternative. In forming MAC Casualty Ltd., the goal of these business owners was to increase buying power and allow member companies many of the same advantages of control generally afforded to only the largest companies.
The mission of MAC Casualty Ltd. is to provide the highest quality insurance protection for its non-related shareholders. By bonding together to create a true sharing of risk, the shareholders can control their insurance costs and avoid the volatility of the general insurance industry. Additional benefits are created through the increased assurance of coverage, the stabilization of premiums and the improved management of risk through effective loss control.
The Company, through the active participation of its shareholders, provides the long-term security of a well-managed offshore insurance company. To meet this goal, only those providers of services that can meet the highest standards of excellence shall be associated with MAC Casualty Ltd..
The philosophy of MAC Casualty Ltd. emphasizes that insurance is a manageable cost. Through the understanding of insurance as a business, MAC Casualty Ltd. shareholders have unveiled the mystique of the insurance industry. Based upon this simple yet powerful concept, MAC Casualty Ltd. has grown to become a documented world class captive with well documented financial and underwriting history. Through ownership in MAC Casualty Ltd., shareholders have indeed taken control of their insurance destiny.