Chelsea Avondale Ltd. is a Bermuda domiciled holding company founded in 2016 by a high-net-worth investor base to acquire property and casualty insurance companies and introduce sophisticated pricing methodologies and advanced systems.
Our operating businesses include two insurance carriers and an insurance brokerage:
Insurance is a relationship business where heritage, traditions and service to your policyholders and brokers matter the most. But above all, the greatest duty of an insurer must be their dedication and loyalty to the communities that they serve.
We firmly believe that community-based insurers better serve their policyholders and outperform the industry as a whole.
Their local focus is reflected in the products offered, in the superior quality of service provided and in the companies' deep local relationship with their policyholders. Their loyalty binds them together in the greatest possible way with their community; they hire staff from their local communities and give back through charities and local community programs.
The mission, values, and symbiotic relationship these insurers have with their policyholders is a testament to why mutual insurance companies represent a very large portion of the industry – their very foundation is to serve their local communities with a tendency to be “people centred, not call centred”.
We aim to help solve the significant limitations of many mutual insurers – their inability to raise capital easily and inability to absorb the incapacitating large expenditures for leading-edge systems and technology.
A Partnership
We approach our acquisitions of community-based insurers as partnerships with management,
policyholders and all other stakeholders. We seek to start a relationship together based on fairness.
It is of utmost importance to us to preserve and enhance their identity and uniqueness;
their staff and teams; their culture and values; and above all,
their connection and service to their communities.
These companies really belong to their communities - we are simply a caretaker.
Stand-Alone Basis
Our companies operate on a stand-alone basis, with autonomous management teams.
Chelsea Avondale’s management team members are underwriters at heart and have profitably underwritten
and developed books of businesses across dozens of lines of business in the global
property & casualty market – we understand the importance of a decentralized management
approach.
Primary Goal
Our primary goal is to bring resources to the table and allow management to focus on serving their
communities – allowing the business to operate from a standpoint of an abundance of resources
rather than scarcity.
If not an established tradition already, we hope to create a new tradition – a
tradition of cutting-edge innovation and a better overall model to the insurance
enterprise that produces exceptional overall returns.
Objectives
Our overarching objectives are:
The Result
We believe these objectives and approach will provide management with the resources to make good decisions – enhanced pricing sophistication, advanced systems and centralization of certain risk management functions → leaving management free to pursue growth opportunities in the community.
We like well-run general insurance companies with a plan for measured growth and a need for capital. As a result of the relationships we have developed in our acquisition activities, we have been approached and are seeking to partner (either through acquisitions or underwriting arrangements), with community-based insurers – whether a mutual / farm mutual, insurer focused on a particular affinity group or with a particular local regional focus.
Niche underwriters that specialize in specific specialty lines of business and underwriting niches are also of interest to us, as they will allow us to create further balance and spread in our overall book business.
Please contact us to discuss a potential partnership.
MAX Insurance, is a property & casualty insurer writing home, farm, and small commercial lines of business (automobile coming soon!).
Based out of Kitchener, Ontario, we write business throughout key Canadian provinces.
Mutual Aid Insurance Brokers Company, an affiliated company to MAX Insurance, is a licensed insurance broker in Ontario.
With Roots dating back to 1866, we are an Insurance Company driven to lower rates using Science and Technology
To get you fair pricing, we focus on the small details, home by home to thoroughly evaluate each risk using exposure, experience and behavioural models enhanced by deep learning AI.
The industry is going “Digital”, that's great but we'd like to take it much further!
Our Scientific pricing will ensure you do not pay a portion of your neighbour’s insurance.
Within seconds and from only a handful of underwriting questions, our scientific pricing algorithms
perform billions of calculations to individually price each risk.
Find out how in our video: