CapVisor Associates, LLC was founded in 2008 as an SEC registered investment advisory firm focused exclusively in serving the insurance marketplace.
CapVisor’s mission is to improve investment program results with solutions uniquely crafted to address the needs of small to midsize commercial and alternative risk insurers. Many experts recognize that insurers in these market segments are often overcharged and underserved by consultants/advisors or their investment managers under the traditional business models.
Most investment service providers are “generalists” or specialized in serving other institutional investors (pensions, 401 K’s, endowments and foundations, public funds, etc.) or are focused on the high net worth market (wealth management). Their expertise, analytic systems, portfolio construction process, investment objectives and fee structures are typically "one size fits all" and often found to be inadequate or inappropriate for insurance companies. We recognize Insurance Asset Management as a discreet discipline requiring expertise and analytics specifically designed to address the challenges inherent in managing the assets of insurance companies. It requires an extensive understanding of the insurance underwriting activities and the interrelationship between the liability structure and the investment plan. Therefore, CapVisor only works with insurance company clients optimizing their investment results by correlating their investment strategy with their company's business objectives, risk tolerance and other constraints.
Carl Terzer is Founder and Principal of CapVisor Associates, LLC, He brings more than 32 years of insurance asset management experience to the task of correlating clients’ investment strategy with their business objectives, risk tolerance, liability structure and accounting and regulatory environments. His expertise encompasses investment plan design, strategic asset allocation and tactical portfolio optimization and manager search/evaluation and after tax, risk adjusted performance analysis. Mr. Terzer’s experience spans insurers in all sizes and lifecycle stages: from 831B’s to multi-billion dollar internationals and from start-ups to run-offs.
Mr. Terzer is currently active in the NAMIC, PCIA, ACLI and numerous alternative risk market organizations. Along with AM Best Company, he has designed and implemented an investment educational program consisting of CapVisor training classes for AM Best analysts seeking CPE credits. He is also the Investment Instructor and curriculum designer at the International Center for Captive Insurance Education (ICCIE) helping students to achieve their Associates degree in Captive Insurance; the (ACI) designation. Mr Terzer serves or has served on various Boards and committees of commercial insurers as well as captive industry organizations.
Mr. Terzer was formerly the Director of the Insurance Advisory Group of Principal Global Investors. Previously, he was Senior Vice President and Marketing Director of the Insurance Asset Management Group of Brown Brothers Harriman & Co. His experience also includes various senior executive positions at Bankers Trust Company, Chase Manhattan Bank and Met Life.
As a frequent speaker at insurance-related events, Mr. Terzer is also regularly sought out to provide editorial contributions to leading insurance industry focused publications such as Reactions, Insurance Asset Manager, US Insurer, Rough Notes, The Self-Insurer, Captive.com, CICR, etc. Carl received a Bachelor's Degree in Business Administration and Economics from Rutgers University.
Joseph LoPorto is a Managing Director and Senior Consultant specializing in investment strategy design, strategic asset allocation, ALM, risk management, investment manager selection and oversight, and financial planning for domestic and international insurers, reinsurers and alternative risk transfer programs (captives and self-insurance pools). Mr. LoPorto has extensive experience in the US, Bermuda and Lloyd's market places.
Mr. LoPorto speaks frequently at industry conferences and regularly publishes research in insurance industry journals on a range of topics including investment management, economic, financial markets, regulatory and risk management topics. He currently serves on the Strategic Planning Committee for the Vermont Captive Insurance Association and has previously served on the VCIA's Legislative and Conference Committees.
Prior to joining CapVisor, Mr. LoPorto was a Vice President and Relationship Manager in the Insurance Asset Management division at Brown Brothers Harriman & Co. where he provided customized investment grade and crossover fixed income, equity and alternative investment strategies and solutions. He also provided banking, custody, accounting and reinsurance collateral services for BBH's global insurance clients.
Mr. LoPorto is a Trustee at Saint Peter's Preparatory School in Jersey City, NJ and currently chairs the school’s Endowment and Pension Committee. He received his Juris Doctorate from Seton Hall University and his BA from Saint Peter's College.
Susan Levy joined CapVisor in 2008 as Director of Client Services. Her responsibilities initially included systems, accounting and reporting. In 2010, Susan also assumed the role of Chief Compliance Officer.
Ms. Levy’s administrative contact duties involve coordination of all client accounting and reporting functions. In this role, Susan aggregates custodial, and investment manager reports providing comparisons to CapVisor’s proprietary internal client reporting systems. She also acts as a liaison to CapVisor proprietary manager network. She assists in the investment manager vetting process, maintaining and analyzing performance data using our proprietary universe comparisons tools and PSN.
With regard to Compliance, Ms. Levy ensures that all procedures and processes are compliant with regulatory requirements.
Prior to joining CapVisor, Ms. Levy had several years of investment industry experience having served as Assistant Treasurer at Bankers Trust Company in the Institutional Securities Services group. Susan managed the Commercial Paper and Bond Redemption departments overseeing 25 people as well as the departments’ P&L. While in this position, Ms. Levy assisted the institutional securities services sales team as a product specialist. She also worked in the Money Transfer division where she was responsible for the installation, customization and customer service of all systems.
Ms. Levy attended Syracuse University, Syracuse NY, where she earned a Bachelor of Science Degree from the School of Management.
Hilary Mechler is a Regional Director (Boston Offices) of CapVisor Associates, LLC, specializing in relationship building and client service. Specifically, she establishes and oversees groups of insurance company relationships including captives, and introduces CapVisor Associates’ investment advisory services to those and other potential client partners. Ms. Mechler brings more than 23 years of investment management experience to the firm, and will utilize her expertise and experience to design unique investment programs built around client objectives, risk budgets and investment policies. She will further help orchestrate investment plan execution for on- and off-shore insurance and captive insurance companies.
Prior to joining CapVisor Associates, Hilary was Director, Institutional Investment Services for 17 years at Munder Capital Management. At Munder, Hilary was responsible for the development and service of an array of institutional client relationships, including insurance companies, captives, subadvisory/intermediary platforms, pension plans and institutional consultants. Her role prior to that was as Assistant Vice President of Client Services for BEA Associates in New York City (since 1991).
Ms. Mechler has contributed to many editorials in leading captive industry publications and regularly attends industry conferences including IMAC, CICA, VCIA and BMA. She also developed a CPE credit program entitled “Economics and Investment Management: What Captives Should Consider”. Ms. Mechler received a BBA in Finance and Marketing from The University of Michigan Ross School of Business. She is Series 7, 26 and 63 licensed.
Paul J. Deeley, SVP, Regional Director
Paul Deeley is a SVP and Regional Director of CapVisor Associates, LLC located in our Boston region. He is responsible for new business development and as a Senior Consultant, also has relationship management responsibilities for client accounts.
For more than thirty years, Mr. Deeley has provided investment management services to institutional and private clients. He is particularly well known in the insurance industry, and more specifically within captive/alternative risk insurance markets where he has focused his expertise over many years. Paul started in the industry in 1987 as a Director and Vice President of a Vermont-domiciled liability risk retention group. He was Vice President of Finance for Vistech Corporation, providing strategy and financial advisory services to corporations worldwide. For the last several years, at Congress Asset Management and Beacon Pointe Advisors, Paul managed client relations with captives and risk retention groups.
Paul is a past board member of the Arizona Captive Insurance Association and has active involvement in CICA, VCIA and CDC-DC captive associations. He is a former director of a National Trust Company and serves on the board of the Little Sisters of the Poor. He is a graduate of Boston College and has an MBA from Syracuse University.
Debbie Leich is a Managing Director responsible for client relationship management and business development. Known for developing trusting relationships with clients, Debbie’s expertise is in establishing a clear vision of investment strategy and in working consultatively with clients to implement and then adapt those strategies to changing economic and/or market conditions. Becoming an integral team member to each client, Debbie provides continued leadership and ongoing strategic direction.
Prior to joining CapVisor, Debbie was a Director of Institutional Markets at Victory Capital Management for 5 years and a Senior Investment Manager at Munder Capital Management for 20 years (Victory Capital purchased Munder Capital in 2014). During her tenure at Victory/Munder, Debbie developed and maintained client relationships with some of the firms largest and most complex clients, including offshore Insurance companies. She was also instrumental in launching new channels and products taking advantage of the changing investment landscape.
Debbie graduated with a BA in Economics from the University of Michigan and has an MBA from Wayne State University. Debbie is on the Board of Directors for the Michigan Municipal League Foundation, she is a Mentor to undergraduate students enrolled at the University of Michigan and is actively involved in several Detroit charities. Debbie is also Series 6, 62 and 63 licensed.
Grant Davis is an Associate at CapVisor Associates, LLC. His primary responsibilities focus on quantitative analysis and investment analytics. This role supports relationship management and business development. Investment manager research, insurance company analysis and strategic asset allocation are primary areas of his expertise.
Prior to joining CapVisor in July 2018, Grant worked as a Financial Analyst with Proton International in Alpharetta GA. His financial modeling experience includes developing loan amoritization schedules, preparing financial projections and sensitivity analysis for various projects.
Grant is enrolled in ICCIE to earn an ACI designation as well as in FINRA training for his Series 65 licensing.
Mr. Davis graduated Cum Laude from the Honors College of the Terry School of Business at the University of Georgia where he received his BS in Business Administration-Finance. Series 65.