Starr forms global accident and health unit

NEW YORK--C.V. Starr & Co. Inc. has organized a subsidiary to tackle the global accident and health market and is introducing a new employer stop-loss product in partnership with Chubb Corp.

Newly formed Starr Global Accident & Health Insurance Agency L.L.C., based in Greenwich, Conn., will be managed by industry professionals with experience in both domestic and international accident and health lines, New York-based C.V. Starr said Wednesday.

The new employer stop-loss product is the first of many it plans to bring to the market, according to a company statement.

"Our ability to capitalize on C.V. Starr's excellent relationship with Chubb will enable us to bring an outstanding offering of security, strength and professionalism to the employer stop-loss marketplace in a 'can-do' environment of creativity," said Peter McGuire, president and chief executive officer of Starr Global Accident & Health.

Warren, N.J.-based Chubb, meanwhile, will continue to write employer stop-loss coverage through its independent agents and brokers.

"This agreement provides Chubb with new growth opportunities in the employer stop-loss insurance marketplace," said Thomas F. Motamed, vice chairman and chief operating officer of Chubb Corp. "We look forward to working with Starr Global Accident & Health's team of highly experienced insurance specialists to deliver Chubb-quality products and services to an array of U.S. employers."