PURE Group of Insurance Companies

When your property is insured with PURE, you benefit from the combined financial strength and professional resources of the PURE Group of Insurance Companies. PURE members receive all of the advantages of a policyholder-owned company, as well as the flexibility and added surplus of a stock company. 

  • Privilege Underwriters Reciprocal Exchange (PURE) is the member-owned insurer at the center of the PURE Group. PURE is fueled by surplus contributions from members and is the company that underwrites policies for our members.
  • Privilege Underwriters, Inc. (PUI), a for profit entity, was founded in 2006 and provides the management resources and capital that enabled PURE’s creation and early success. PUI was capitalized through investments from management and Trident III, a private equity fund managed by Stone Point Capital, a preeminent investor in the insurance industry. 
  • PURE Risk Management, LLC (PRM), a subsidiary of PUI, serves as the attorney-in-fact for PURE. PRM is paid a fee to provide all marketing, underwriting and claims administration services for PURE.
  • PURE Insurance Company (PIC) is also a subsidiary of PUI, and plays a major role in the Group. PIC is a reinsurance company that is pooled with PURE and shares in its net results. PIC also holds surplus notes issued by PURE. 


Pooling Agreement

As a member of The PURE Group of Insurance Companies, PURE is pooled with a separate company, PURE Insurance Company (PIC), which is owned by the parent company of PURE’s Attorney-In-Fact (management company).  This pooling arrangement is the essence of alignment of interests.  While the AIF would have interest (fee income) in the growth of PURE, this pooling agreement shares premiums and losses equally, ensuring that the AIF has no interest in growing the exchange at the sake of risking PURE’s underwriting quality.

This pooling agreement also creates more surplus capital available for PURE members, as well as greater capital flexibility. PIC has the flexibility to access all capital markets (including equity capital) should there be a need or opportunity to support accelerated growth or strengthen PURE’s balance sheet.

While PURE and PIC share all net premiums and net losses equally – but 100% of all member surplus contributions inure to the benefit of PURE.  These surplus contributions provide PURE with a low cost of capital, which in turn helps keep rates low for the membership.