US-based commercial insurer Crum & Forster has announced the launch of a new life insurance business unit.
The launch of the new life unit builds on Crum & Forster’s 2021 acquisition of New York-based Monitor Life Insurance.
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Crum & Forster hopes that the new unit will allow it to expand its accident and health (A&H) offerings.
The firm is licenced to operate in 48 states of the US and the filings of initial product offerings are ongoing with the sales expected to begin in the last quarter of this year.
Monitor Life’s acquisition and the new unit enable Crum & Forster to write a full suite of life products and offer the flexibility to expand A&H offerings in the future.
Crum & Forster A&H president Gary McGeddy said: “This is an exciting development for Crum & Forster, and we look forward to expanding our offerings to enhance our capabilities to meet and exceed clients’ expectations.
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By GlobalData“As a business, we are committed to designing a diversified portfolio that delivers superior customer service to our partners. Our new life business is another step along that journey.”
Crum & Forster new Life business unit and A&H medical business unit head Gary Nidds said: “We look forward to working with our partners to expand our value proposition and continue providing new, high-quality products and services.
“As we continue to diversify and put forth innovative product offerings, we’re excited to be a catalyst of opportunity within the life insurance ecosystem.”
Crum & Forster will continue marketing through MGUs, TPAs, brokers, agents and programme managers.
Founded in 1822, Crum & Forster is part of Fairfax Financial.
