Annandale, Va.-based The Lighthouse Companies, a program underwriting company that works with select industry groups, has announced that it has acquired the remaining outstanding membership shares of Lighthouse Eldercare, LLC, a business unit in which it has held 50 percent ownership since 2001.
Lighthouse Eldercare offers insurance products designed specifically for those that provide services to the elderly, including nursing homes, assisted living, independent living and home health care agencies.
Rob C. Rigsby will now serve as the Eldercare unit program director. A 13-year veteran of the insurance industry, Rigsby joins The Lighthouse Companies after serving as CEO of URM Group, a California-based risk management services company specializing in the alternative risk market. In addition to new leadership, Lighthouse Eldercare will also add new underwriting staff.
Lighthouse also announced that it has completed the formation and funding of a new captive insurance vehicle designed to enhance the company’s placement capabilities in the eldercare market and offer more competitive solutions to agencies serving eldercare providers. The captive was formed in partnership with Markel Insurance Company, Richmond, Va. The new entity will make it possible for Lighthouse to offer higher-value solutions and additional underwriting flexibility to segments of the eldercare market.
Topics Mergers & Acquisitions
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