History

WellsCanning was established in 1995 to focus on working with insurance companies on investment-related issues. We recognized that the insurance industry needed a source of objective and quantitative analysis to help them find solutions for insurance specific investment questions. The company is solely owned by Karen Wells and Andrew Canning.

Clients

We have remained true to our original mission. The firm began with one small P&C client and has evolved to include a diverse client base of Life, Health and P&C clients ranging from $50 million to $7 billion in assets, located both in the U.S. and offshore. Clients range from mutuals, to stock companies, to captives and write a wide variety of business including:

• Life
• Property & Casualty
• Reinsurance
• Health
• Med Mal
• Workers Compensation

Andrew Canning

Mr. Canning joined WellsCanning in 2001 and his background in quantitative analysis and investment management is invaluable in guiding our clients through a broad array of investment issues. Prior to joining WellsCanning, Andrew Canning was a Managing Director at JP Morgan Investment Management (JPMIM). Over the course of 10 years at JPMIM, Mr. Canning held positions in both fixed income and equity where he was Head of Structured Equity as well as the founder and head of Fixed Income Quantitative Research Group.

Prior to joining JPMIM, Mr. Canning worked at First Boston Corporation in both New York and London.

Mr. Canning graduated from Williams College with a degree in economics.

William A. Batiste, III

Bill Batiste joined WellsCanning in 2002 as an analyst after graduating Cum Laude from Pace University in New York. At Pace, Bill majored in mathematics with a concentration in quantitative financial analysis. Since joining WellsCanning, Mr. Batiste has worked with insurance clients on projects including asset allocation analysis, performance analysis, and peer analysis. Mr. Batiste has also helped to develop tools that combine market information and underwriting data for our insurance client base.

Andy Coupe

Andy Coupe joined WellsCanning as an analyst in 2006. Mr. Coupe works with clients on projects including peer analysis, quarterly reports, asset allocation and industry research. In January of 2009, having completed the analyst program, Andy became an associate. As an associate he also has responsibility for overseeing analyst work for all assigned clients.

After graduating from the University of Leeds in 2001 with a BS in Biochemistry (honors), he completed a Post Graduate Certificate of Education at St. Martin’s College in 2003 before moving to the US. Andy is currently completing an MBA in Finance from St. Thomas Aquinas College, while simultaneously studying for the CFA.

Michael Fontaine

Michael Fontaine joined the WellsCanning team in June of 2009 as an analyst after graduating from Iona College in New Rochelle, NY. Michael graduated with a B.B.A. in Finance with a minor in Economics. As an analyst, Michael worked with clients on peer analysis, quarterly reporting and asset allocation analysis.

In 2011, having completed the analyst program, Michael became an Assistant Vice President. In this new role, he continues to add value to our clients through quantitative analysis while also focusing on maintaining and developing relationships within the asset management community.

Community Involvement

We believe it is important to take an active role to support the community in which we operate. This is good business practice and reinforces both internally and externally our corporate culture.

• Charitable Donations: WellsCanning makes donations to organizations that are important to our clients in lieu of holiday gifts.
• Local Food Bank: Each year we raid our storage room and donate supplies that could help the local food bank. Most recently, we donated some very attractive WellsCanning mugs.
• Westchester Green Business Challenge: WellsCanning is involved in the W.G.B.C. which takes part in green initiatives to promote environmentally sound business practices.

Educational Development

Continual learning is the only way to ensure that the ideas fostered at WellsCanning remain additive to our clients and the industry. We pursue education on two fronts:

• External: Each year, WellsCanning provides a research grant to the graduate program at St. John’s School of Risk Management.  The purpose of the annual grant is to facilitate investigation into research topics specifically on the intersection of investments and insurance.
• Internal: WellsCanning actively encourages its employees to continue their learning process.  First year analysts undergo a year of educational seminars based on a wide array of insurance and investment topics. Everyone is encouraged (and required!) to participate in the market research which feeds our quarterly economics and market meeting where we develop our views of likely and unlikely scenarios that could affect our clients' investment strategies.

Industry Association

It is important to WellsCanning professionals to stay current in the insurance and investment industry. This ensures that we are up to date on new opportunities for our clients. Some of those conferences that we attend and present at on a regular basis are:

• AMBest Conference
• American Association of State Compensation Insurance Funds Conference & CEO's Roundtable
• American Council of Life Insurers Conference
• Intercompany Long Term Care Conference
• Physician Insurers Association of America's Conference
• Property Casualty Insurers Association of America's Conference