Munich Re to acquire Windsor Health Group
by Richard Kilner
Story link: Munich Re to acquire Windsor Health Group
Munich Re has agreed terms for the acquisition of Windsor Health Group, Inc. in line with its strategic goal of bolstering its presence in the US Medicare market.
Munich Re provides global insurance, reinsurance and risk management expertise in the field of healthcare under the brand name of Munich Health.
Windsor provides government-sponsored health plans via its Windsor Health Plan, Inc. subsidiary, offering specialised healthcare services to tens of thousands of members in Alabama, Arkansas, Mississippi, South Carolina and Tennessee.
Munich Re will acquire a 100% stake in Windsor for $125m in cash, with financing coming from the firm’s existing resources.
The deal remains subject to regulatory approval, and should the green light be forthcoming the transaction is expected to be completed at the end of Q4 2010.
Two years ago the firm acquired specialty health insurer Sterling Life Insurance Company (Sterling), which operates in all 50 US states.
Together, Sterling and Windsor will cater to 200,000 members across the US.
Earlier this year Munich Re acquired AIG subsidiary Hartford Steam Boiler (HSB) Group in a deal worth $739m.