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Core Specialty Announces Acquisition And Formation Of Medical Stop-Loss Division

Jun 12, 2023•over 2 years ago

Acquiring Company

Core Specialty Insurance Holdings, Inc.

Acquired Company

Medical Stop-Loss Division

CincinnatiInsurance

Description

Core Specialty Insurance Holdings, Inc., and its subsidiaries (“Core Specialty” or the “Company”) announced today that it will form a Medical Stop-Loss Division through the acquisition of the MGU/Stop-Loss business of American National Group (“ANAT”). The acquisition will mark Core Specialty’s 13th Specialty Business Unit. Jim Stelling will join Core Specialty as the President of the newly formed Medical Stop-Loss Division.

Company Information

Company

Core Specialty Insurance Holdings, Inc.

Location

Cincinnati, Ohio, United States

About

Core Specialty offers a diversified range of property and casualty insurance products for small to midsized businesses. From its underwriting offices spanning the U.S., the Company focuses on niche markets, local distribution, and superior underwriting knowledge; offering traditional as well as innovative insurance solutions to meet the needs of its customers and brokers. Core Specialty is an insurance holding company operating through StarStone Specialty Insurance Company, a U.S. excess & surplus lines insurer, and StarStone National Insurance Company, Lancer Insurance Company, and Lancer Insurance Company of New Jersey, each of which is a U.S. admitted markets insurer. All Core Specialty Insurance entities are AM Best rated A- (Excellent); the Starstone companies are Financial Size Category XII and the Lancer entities are Financial Size Category VIII. For further information about Core Specialty, please visit www.corespecialty.com.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed