Senior Market Sales Acquires New Jersey-Based Medi-Solutions Insurance Agency
Senior Market Sales (SMS) announced that it has acquired Medi-Solutions Insurance Agency, LLC, a provider of Medicare insurance plans to clients nationally. Medi-Solutions Insurance serves clients in New Jersey as First Jersey Insurance Agency, which opened in 1985. Starting in 1989, the business grew to provide Medicare plans in New Jersey, New York and Connecticut. In 2018, the company expanded with Medi-Solutions, which sells Medicare in New Jersey, Florida and throughout the United States. Founded in 1982, SMS is headquartered in Omaha, Nebraska. SMS represents top Medicare Supplement, Medicare Advantage, annuity, life, long-term care and travel insurance carriers in all 50... Read More »
Cigna Calls Off Humana Merger, Plans Big Stock Buyback
The Wall Street Journal had originally reported on November 29 that payer giants Cigna and Humana are exploring a merger that could shake up the power dynamics of the industry, citing people familiar with the matter. The two companies were discussing an all-cash deal that would have been finalized by the end of the year. However, Cigna and Humana have now ended merger talks amid concern from investors and an inability to pin down key financial terms, according to a new Wall Street Journal report. If it had gone through, the merger would have created a $140 billion industry giant, positioning itself as the largest player in the Managed Care space. Instead of pursuing the merger,... Read More »
PE-Backed Ryan Specialty Acquires AccuRisk Holdings
Ryan Specialty announced that it has signed a definitive agreement to acquire AccuRisk Holdings, a medical stop loss managing general underwriter founded in 2017. AccuRisk offers traditional insurance products alongside advanced risk mitigation solutions. It has established a national footprint through its Chicago headquarters, as well as offices in Massachusetts and South Carolina. For the year ended July 31, 2023, AccuRisk reported revenue of approximately $25 million. Founded in 2010, Ryan Specialty is a service provider of specialty products and solutions for insurance brokers, agents and carriers. Ryan Specialty provides distribution, underwriting, product development,... Read More »
Premier Choice Healthcare Bolsters PMI Offering with Healthcover Acquisition
Premier Choice Healthcare (PCH), the health insurance intermediary hub owned by Brown & Brown, announced on October 18 the acquisition of the entire share capital of Brighton-based Healthcover Ltd. Healthcover specializes in personal and business private medical insurance (PMI) and has a distinct focus on international health coverage for U.K.-based customers. Founded in 1996, PCH is one of the largest independent insurance intermediaries in the United Kingdom, providing market strength and support with a wide range of resources and expertise. As part of the deal, the Healthcover team will integrate into PCH across the United Kingdom. Healthcover’s two... Read More »
UnitedHealth Group Reports 14% Growth YoY, Expands Services & Customer Base
UnitedHealth Group Incorporated (NYSE: UNH), one of the largest health insurers in the United States, reported its third-quarter financial results on Friday, October 13. Last year, the company reported positive performance and balanced growth across its Optum and UnitedHealthcare business segments. This trend has continued into Q3:23, as the company’s growth in the third quarter was attributable to an increase in the number of people served by Optum and UnitedHealthcare, and the broadening scope of services offered. During Q3:23, UnitedHealth reported group revenues of $92.4 billion, up 14% from $80.9 billion in Q3:22. The company also announced Q3:23 earnings from operations of $8.5... Read More »Schedule a demo
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