New Industry Unit Builds on Acquisition of Track Existence, Catalyzes Endured Growth of Coincidence & Well being Product Choices
NEW YORK, Sept. 15, 2022 /PRNewswire/ — Nowadays, Crum & Forster introduced the release of its new Existence Insurance coverage enterprise unit, development at the group’s 2021 acquisition of Track Existence Insurance coverage Corporate of New York.
C&F’s national licensure expands alternative for insurance coverage carriers and strategic companions alike.
AM Absolute best has additionally reaffirmed Crum & Forster’s “A” monetary power ranking, which contains Track Existence and the wholly owned captive facility, Crum & Forster Segregated Portfolio Corporate (SPC) situated within the Cayman Islands. S&P has additionally lately upgraded the monetary power ranking for Fairfax Monetary Holdings, the dad or mum corporate of C&F, to “A.”
Crum & Forster’s acquisition of Track Existence and release of a brand new existence insurance coverage enterprise unit will permit the group to proceed increasing its Coincidence and Well being (A&H) choices in an evolving market. With Certificate of Authority in 48 states (pending approval in MN, OR), filings for the preliminary suite of goods are underway and gross sales will start in This fall this yr. The purchase and new unit will give Crum & Forster A&H the facility to write down a complete suite of existence merchandise, and in addition give the corporate the versatility so as to add further A&H merchandise transferring ahead.
“That is a thrilling construction for Crum & Forster, and we look ahead to increasing our choices to support our features to fulfill and exceed shoppers’ expectancies,” stated Gary McGeddy, A&H President. “As a enterprise, we’re dedicated to designing a varied portfolio that delivers awesome customer support to our companions. Our new existence enterprise is any other step alongside that adventure.”
The corporate will proceed advertising and marketing via MGUs, TPAs, agents, brokers and program managers. Crum & Forster’s national licensure additionally lets in different insurance coverage firms to spherical out their geographic footprint via strategic partnerships and versatile chance proportion preparations.
“We look ahead to operating with our companions to enlarge our price proposition and proceed offering new, top of the range services and products,” stated Gary Nidds, head of Crum & Forster’s new Existence enterprise unit and its A&H Clinical enterprise unit. “As we proceed to diversify and put forth leading edge product choices, we are excited to be a catalyst of alternative throughout the existence insurance coverage ecosystem.”
About Crum & Forster Coincidence & Well being
Crum & Forster,* rated A (Very good) through AM Absolute best (2022), is a countrywide business assets and casualty workforce of insurance coverage firms wholly owned through Fairfax Monetary Holdings Restricted. Since 2000, Crum & Forster’s Coincidence & Well being Department has presented a various portfolio of forte insurance coverage and reinsurance merchandise national. We position a robust center of attention on product construction and inventive distribution strategies, at the side of very good consumer provider and make stronger. As well as, our talent to offer global Coincidence & Well being answers via our Cayman Island captive facility in addition to via quite a lot of partnerships throughout the Fairfax circle of relatives demonstrates our determination to offering choice methods in an ever-changing insurance coverage marketplace. Apply us on LinkedIn, Twitter and Instagram.
*The C&F emblem, C&F and Crum & Forster are registered logos of United States Hearth Insurance coverage Corporate.
VP C&F Company Communications
AVP C&F A&H Communications
View authentic content material to obtain multimedia:https://www.prnewswire.com/news-releases/crum–forster-accident–health-division-announces-launch-of-new-life-insurance-business-unit-301625641.html
SOURCE Crum & Forster