US-based Worldwide Facilities has acquired Strategic Underwriting Solutions (SUS), a medical stop-loss focused managing general underwriter based in Green Bay, Wisconsin.
The acquisition of Strategic Underwriting marks Worldwide Facilities’ foray into the life & health space.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Established in 2006, SUS has complete underwriting authority for medical stop-loss insurance for insurance and reinsurance markets.
The acquired firm also offers programme risk management and product development services to its consulting clients apart from underwriting capabilities.
Commenting on the deal, Worldwide Facilities CEO Davis Moore said: “We are pleased to have Vicki and the entire SUS team join Worldwide Facilities as we diversify into the wholesale benefits business.
“SUS’s successful track record of developing customised benefit programmes on behalf of carriers and reinsurers allows us to expand our product offerings and value proposition to our retail customers.”
SUS president & CEO Vicki Schmelzer commented: “We are very excited to join the Worldwide Facilities team, allowing us to carry forth our mission with integrity, while providing superior risk management solutions to our carriers and special market clients.
“We are proud to continue contributing to the industry, while gaining synergy through a very accomplished team of insurance professionals at Worldwide Facilities.”
Worldwide Facilities hired Marsh, Berry & Company as its financial advisor for this deal, while Dowling Hales acted as an advisor to Strategic Underwriting Solutions.
