Brown & Brown acquires US MGU Health Special Risk
Insurance broker Brown & Brown has acquired US-based Health Special Risk (HSR), a provider of third-party administration (TPA) and managing general underwriting (MGU) services for special risk and accident & health insurance.
Health Special Risk has been operational for 40 years and has annual revenues of approximately $6.5 million.
Following the deal, the HSR team will continue to operate from their offices in Texas and Minnesota. Tom Lenihan will remain as president of HSR leading the new HSR profit centre, and Phil Munson, as executive vice president, will continue to oversee the MGU operations of HSR. Lenihan will report to Drew Smith, president of American Specialty.
“Tom, Phil and the HSR team have been a constant in the special risk and accident & health space for decades, providing top of class service for their clients and carrier partners," said Smith. "We are excited about what they bring to our collective capabilities and the complementary market focus that they share with the American Specialty team.”
Lenihan and Munson, the principals of Health Special Risk, commented: “Through our partnership with Brown & Brown and American Specialty, we will be provided opportunities for growth far surpassing what we could do independently. The entire HSR family is excited to join forces with Brown & Brown as we enter this new phase of our journey.”
Make sure you are GDPR compliant and confirm your email address to keep getting our daily emails
More of today's news
Allstate partners with Uber in NY
Endeavour outsources claims processing
Brokerslink bolsters global broking operational capabilities with new hire
Castel appoints new non-exec chairman in expansion move
Loss estimate for cyclone Eleanor increases
Already registered?
Login to your account
If you don't have a login or your access has expired, you will need to purchase a subscription to gain access to this article, including all our online content.
For more information on individual annual subscriptions for full paid access and corporate subscription options please contact us.
To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.
For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk
Editor's picks
Editor's picks
More articles
Copyright © intelligentinsurer.com 2024 | Headless Content Management with Blaze