Swiss Re CS expands in A&H market with acquisition for portfolio diversification
Swiss Re Corporate Solutions has strengthened its accident and health (A&H) capabilities with the acquisition of an independent employer stop loss (ESL) managing general underwriter (MGU) in the US.
The transaction includes TMS Re's operations, its team of experts and business portfolio, including new and renewal business.
The acquisition broadens Swiss Re Corporate Solutions' ESL capabilities in the self-funded healthcare benefits segment, as well as enhances the company's underwriting expertise, while strengthening its product distribution through TMS Re's direct broker and third-party administrator relationships.
Additionally, A&H gives Swiss Re Corporate Solutions greater portfolio diversification and complements other risk portfolios.
In due course, the ESL business produced by TMS Re will be written through Swiss Re Corporate Solutions' US carrier, North American Specialty Insurance Company, rated A+ (Superior) by AM Best and AA- by Standard & Poor's.
Ivan Gonzalez, North America CEO of Swiss Re Corporate Solutions, said: "TMS Re is an MGU partner that shares our strategic view and commitment to customer service and operational excellence. Its team has extensive experience and deep expertise."
Mike Shevlin, chairman and CEO of TMS Re, said: "We're excited to join the Swiss Re team to further leverage the resources of a global reinsurance organisation and enable more producers and their clients to access the risk expertise of a recognized leader in the A&H space."
Travis Micucci, president and COO of TMS Re, added: "This acquisition is great news for our producers and policyholders. Mike and I founded this company by building long-term relationships with brokers and clients, which will complement Swiss Re's strengths and enhance the value proposition."
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