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ARKWRIGHT MUTUAL INSURANCE COMPANY AND FAILURE ANALYSIS ASSOCIATES ANNOUNCE INTENTION TO FORM A STRATEGIC ALLIANCE

 MENLO PARK, Calif., and WALTHAM, Mass., Sept. 20 /PRNewswire/ -- Failure Analysis Associates, Inc., and Arkwright Mutual Insurance Company today announced their intention to form a strategic alliance to enhance the growth and profits of both firms.
 Arkwright's and Failure Analysis' operating strengths complement one another. Arkwright will tap Failure Analysis' extensive databases, industry knowledge and statistical modeling capabilities to design advanced underwriting models and to assist customers in controlling losses. The alliance will also focus on expanding Arkwright's risk consulting services. Arkwright's direct sales force and brokerage subsidiary, Hobbs Group, Inc., will introduce certain Failure Analysis risk management services now being developed for both property and casualty coverages.
 Arkwright will also explore collaborative efforts between Failure Analysis Associates and Factory Mutual Engineering and Research, Arkwright's engineering and loss adjustment affiliate, on other activities conducted on Arkwright's behalf.
 "Both Arkwright and Failure Analysis have a culture that emphasizes operating/property risk assessment for commercial, industrial and institutional operations. Arkwright, Factory Mutual Engineering & Research, and Failure Analysis are recognized leaders in their respective markets and enjoy excellent reputations. These similarities and our complementary strengths raise the probability of success of this new business relationship in meeting our customers' needs," remarked William J. Poutsiaka, president of Arkwright Mutual Insurance Company.
 "From our standpoint, the introduction by Arkwright and Hobbs Group to a most desirable new client base will certainly work to increase the visibility of Failure Analysis," said Dr. Roger L. McCarthy, P.E., chief executive officer of Failure Analysis Associates. "We also expect our alliance with Arkwright to expand the range of offerings to our traditional markets with the high quality services our present clients have come to expect."
 The Failure Group, Inc., through its principal operating subsidiary, Failure Analysis Associates, Inc., is the leading independent consulting firm devoted primarily to the investigation, analysis and prevention of failures of an engineering or scientific nature. Founded in 1967, the company, with fiscal 1993 revenues of $65.4 million, operates out of nine domestic and five international offices, with headquarters in Menlo Park.
 Founded in 1850, Arkwright Mutual Insurance Company of Waltham ranks among the 100 largest property/casualty underwriters in the United States, with year-end 1992 total assets of $1.4 billion. Arkwright is the world leader in helping its customers minimize their long-term cost of risk by emphasizing loss prevention and control engineering, and high-quality risk financing programs. The company's superior capitalization, conservative operating strategy and strong liquidity position have consistently earned it an A.M. Best's rating of "A+" (Superior). Arkwright's brokerage subsidiary, Hobbs Group, Inc., was the 29th largest broker of U.S. business for the year ended Dec. 31, 1992, according to Business Insurance.
 -0- 9/20/93
 /CONTACT: Dr. Angela Meyer of The Failure Group, Inc., 415-326-9400, or Esther Sprano of Arkwright Mutual Insurance Co., 617-890-9300/
 (FAIL)


CO: Failure Analysis Associates, Inc.; Arkwright Mutual Insurance
 Company ST: California, Massachusetts IN: INS SU:


TW -- NY009 -- 3466 09/20/93 08:27 EDT
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Publication:PR Newswire
Date:Sep 20, 1993
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