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CompSource Mutual Insurance Company announces partnership with Waypoint Underwriting Management to add reinsurance to its portfolio 

OKLAHOMA CITY (May 10, 2024) – CompSource Mutual Insurance Company, the leading workers’ compensation insurance carrier in Oklahoma, announced today a partnership with Waypoint Underwriting Management, a leading managing general underwriter to provide reinsurance services effective July 1. The move further strengthens the company’s financial position through expected surplus growth and the addition of a revenue stream. 

 CompSource Mutual CEO Trey Ingram introduced the partnership, saying, “I am thrilled to announce our strategic partnership with Waypoint, a collaboration that underscores CompSource Mutual’s robust financial health and forward-looking vision. Our future strategy revolves around harnessing the strength of dynamic partnerships to enhance our financial resilience, expand our surplus, and diversify our revenue streams. This partnership with Waypoint is a cornerstone of that strategy, and I eagerly anticipate the positive outcomes we will achieve together.”  

 As an industry-leading MGU, partnerships with New Jersey-based Waypoint Underwriting Management underscore an organization’s strength, stability, and long-term vision. Waypoint offers Property, Casualty, Workers’ Compensation, and Accident & Health reinsurance solutions to insurers. Waypoint also functions as a primary MGU for Personal Accident and Medical insurance and provides consulting services for filing, forms, and actuarial memorandums within the Accident insurance industry. In accordance with pre-determined risk guidelines from CompSource Mutual, Waypoint will manage all aspects of underwriting and account service. 

“Through this joining of forces and our shared values of innovation, integrity, and unwavering commitment to success, I fully expect to achieve optimal performance and returns for CompSource Mutual while operating within their risk appetite,” said Jason Denechaud, Managing Partner at Waypoint.  

 

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About CompSource Mutual Insurance Company  

For 85+ years, Oklahoma businesses have partnered with CompSource Mutual as a reliable source for workers’ compensation insurance. CompSource Mutual is trusted for its financial stability, superior service, and innovative solutions. CompSource Mutual seeks to be the insurance carrier of choice within the business community by serving Oklahoma’s most valuable asset, its people.  

 

 

Contact: Megan Huntley  

Director of Corporate Communications  

Mhuntley@compsourcemutual.com 

(405) 962-3225