NFP acquires medical stop loss company, group captive business
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NFP Corp. said Tuesday it has acquired a South Carolina-based medical stop loss company and its self-funded group captive business.
Terms of the transaction were not disclosed.
NFP said in a statement its acquisition of Spartanburg, South Carolina-based East Coast Underwriters LLC and Blue Ridge Captive Solutions PCC Inc. enhances its medical stop loss and self-funded group captive business.
It said managing general agent East Cost Underwriters provides medical stop loss to mid-sized self-insured employers through a distribution network of third-party administrators, benefits brokers and general agents.
Blue Ridge Captive Solutions, a captive program underwritten by East Coast Underwriters, enables groups to pool their risk, NFP said in its statement.
Aaron Wilkie, president of both East Coast Underwriters and Blue Ridge Captive Solutions, will join NFP as managing director and work closely with the broker’s medical stop loss unit, including Excess Reinsurance, and its corporate benefits team.
New York-based NFP is the 13th-largest broker of U.S. business, according to Business Insurance’s latest ranking.
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