Zurich American Insurance Company, a provider of insurance products and services to businesses in multiple industries, has signed an agreement to acquire Special Insurance Services, Inc., a Texas-based program manager whose offerings include gap medical and occupational accident insurance products.
The acquisition will expand Zurich’s supplemental health insurance solutions that help businesses and individuals better manage medical costs.
Zurich’s accident and health products for employers and other groups include voluntary benefits, travel insurance and assistance, gap medical, medical stop-loss, occupational accident and student accident insurance. The acquisition of SIS, which is expected to be completed in early 2022, will help expand Zurich’s ability to deliver solutions in gap medical, occupational accident and primary employer indemnity insurance.
SIS has capabilities to develop, underwrite, distribute and administer specialty insurance products for small- and midsize employers. SIS has been managing programs since 1987 and today provides some level of administrative services to more than 5,000 employers and their employees, with annual premium of approximately $55 million.
Source: Zurich American Insurance Company
Topics Mergers & Acquisitions Texas
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