ELMC is working with managing general underwriters (MGUs) specialising in underwriting medical stop-loss insurance for self-funded health plans.
The new financing has enabled ELMC to make its own acquisition, buying sector player IOA Re., which also offers managed care insurance products and workers’ compensation catastrophe reinsurance.
“The ELMC platform enables us to reach a larger audience as well as strengthen our risk positions and capture profits through its offshore captive strategy, ” John Parker, president of IOA Re, said.
Commenting on the investment, Eric Rahe, a managing director at JC Flowers, added, “We believe this is an ideal time to invest in the medical stop-loss insurance sector, as more businesses are choosing to self-insure.
“Not only is this a sector we know well, but by partnering with the highly respected ELMC and IOA Re teams, we feel confident we can further enhance the company’s standing in the industry.”
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