Curi Holdings, a Raleigh-headquartered medical liability insurance company, plans to merge with Minnesota-based Constellation Inc., creating a company with more than $2 billion in assets, the companies said in a press release.
Curi, which notes it is malpractice insurance for physicians by physicians, will now be part of an insurer that covers more than 50,000 doctors and other health care providers. The terms of the deal were not reported.
Curi was formerly known as Medical Mutual Holdings Inc. until 2019, when it rebranded. It was established in 1975 when other carriers stopped offering malpractice insurance to many physicians in North Carolina.
Constellation already includes Midwest Medical Insurance Co., Arkansas Mutual and Utah Medical Insurance Association. Ryan Crawford is president and CEO.
Curi CEO Jason Sandner will remain head of Curi Holdings. The 10 directors on each company’s boards will come together “in equal representation” to govern the merged corporation, the companies said in a statement.
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