Crum & Forster, a commercial property and casualty group of insurance companies, has launched a life insurance business unit.
Since 2000, Crum & Forster’s Accident & Health Division has offered a range of specialty insurance and reinsurance products across the US.
The company prides itself on its “strong focus on product development and creative distribution methods,” in addition to client service.
The launch of the life insurance business unit follows the company’s 2021 acquisition of Monitor Life Insurance Company of New York.
Crum & Forster said it acquisition of Monitor Life, together with the launch of a new life insurance business unit, will allow the organisation to continue expanding its Accident and Health (A&H) offerings in an evolving marketplace.
With Certificates of Authority in 48 states (pending approval in MN, OR), filings for the initial suite of products are underway and sales will begin in Q4 this year.
The acquisition and new unit will give Crum & Forster A&H the ability to write a full suite of life products, and also give the company the flexibility to add additional A&H products moving forward.
Gary McGeddy, A&H president, 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.
“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.”
Gary Nidds, head of Crum & Forster’s new Life business unit and its A&H Medical business unit, added, “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.”
Earlier this year, Petriage, a pet health technology company, partnered with Crum & Forster Pet Insurance Group, provider of the ASPCA pet health insurance programme, to provide AI-powered pet health tools.
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