HIIG acquires remainder of MGU Creative RiskPosted On: Sep. 21, 2018 10:10 AM CST
Houston International Insurance Group Ltd. on Friday said it has agreed to acquire the remaining shares it does not own of Creative Risk Underwriters LLC.
Terms of the deal were not disclosed.
Creative Risk Underwriters is managing general underwriting agency based in Marietta, Georgia, specializing in medical stop-loss coverage, HIIG said in a statement.
The combined companies are expected to generate more than $125 million in gross written premium in 2019, according to the statement.
Creative Risk Underwriters will be integrated into HIIG Accident & Health, the statement said. Michael Remeika, founding partner and president of Creative Risk Underwriters, will serve serving as president of the combined companies and report to L. Byron Way, CEO of HIIG A&H.
“This transaction will enhance our profitable expansion in the stop-loss market," Mr. Way said in the statement.