C&F has been underwriting stop-loss insurance for over two decades. Photo by Marcelo Leal on Unsplash.

US-based commercial insurance company Crum & Forster (C&F) Accident & Health (A&H) has acquired Partners Managing General Underwriters (PMGU) for an undisclosed sum.

C&F did not disclose the financial terms of the transaction, which is aimed at bolstering its position in the self-insured marketplace.

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PMGU is a medical stop-loss insurance underwriter for self-insured plans, with over $100m under management.

C&F, which is wholly owned by Fairfax Financial, said it keeps investing in the Accident & Health division to vertically integrate headline products into its line-up.

It has been underwriting stop-loss insurance for more than two decades.

C&F Accident & Health president Gary McGeddy said: “The acquisition of PMGU marks an exciting start to 2023. Our companies share the same vision and culture, and a commitment to partner service. Brian and his team will report into Gary Nidds, executive vice president of the medical business unit, and the collective mission of our two organisations presents a wealth of opportunity to evolve and scale in a growing ecosystem.”

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The insurance company stated that it will keep providing a wide range of goods and services on a direct and programme basis through a variety of distribution channels, including MGU, managing general agencies, brokers, and third-party administrators.

PMGU CEO Brian Miller said: “I know I speak for all of PMGU in sharing our excitement as we officially become part of the C&F A&H family. We have been strategically aligned for nearly seven years, and this move is one that is not only great for our organization, but also for those we have and will continue to serve.”