Sequoia and IOA Re Announce Expansion into Personal Accident Reinsurance Sector
Leading medical stop loss and managed care writers expand product offering with Everest
CONSHOHOCKEN, PA, October 24, 2023 – Sequoia Reinsurance Services and IOA Re are pleased to announce a collaboration with Everest Reinsurance Company (“Everest”) and/or its affiliates to expand their product offerings in the personal accident reinsurance space. Sequoia and IOA are best-in-class managed care and stop loss underwriting managers under the ownership of NSM Insurance Group.
By expanding their relationship, Everest, Sequoia and IOA will bring their A+ rated paper to the accident reinsurance market with new product offerings to better serve producers and clients.
“The Sequoia and IOA teams are delighted to expand our product offerings with Everest,” commented Dan Bolgar, CEO of Sequoia Reinsurance Services. “We continue to consider ways in which we can serve the broader accident and health market.”
This new capacity includes:
- Life and accident catastrophe programs
- Risk excess/per person excess of loss accident programs
- Accidental death carve-out programs
“As a trusted accident and health reinsurance market for nearly three decades, Everest is pleased to expand our partnership with Sequoia and IOA Re into the personal accident reinsurance space,” said Shawn Austin, Everest Senior Vice President and Head of Accident and Health for North America. “Given the current supply and demand imbalance of personal accident capacity, Everest is proud to be able to re-enter this important sector and provide the A&H market with the additional capacity needed to support their risk management needs.”
About Sequoia Reinsurance Services, LLC
Sequoia Reinsurance Services, LLC is an entrepreneurial health reinsurance underwriting and risk management organization with a spirit of responsiveness and creativity to support our customers through quality reinsurance solutions, both from a financial and service perspective. We offer health reinsurance solutions to health plans, HMOs, insurance companies, at-risk healthcare providers, self-insured employers and captive insurance programs. Sequoia’s team leads the industry as experienced, managed care reinsurance experts providing tailored risk solutions, best-in-class client engagement, comprehensive clinical and cost management programs and superior claim services. For more information, visit elmcgroup.com/sequoia.
About IOA Re
IOA Re is the recognized leader in reinsurance for the self-funded market, offering innovative solutions for medical stop loss, provider excess loss insurance and HMO reinsurance for groups of all sizes. With a highly experienced team of underwriters, claims administrators and clinicians, IOA Re is committed to delivering smart, creative stop-loss solutions to its partners. For more information on IOA Re, visit ioare.com.
About NSM Insurance Group
NSM Insurance Group is a global specialty insurance provider, exclusively focused on building successful insurance programs. For more than 30 years, NSM has been committed to delivering industry-specific insurance programs that help agents meet the unique needs of their customers and fuel market growth through innovative development, underwriting, distribution and claims expertise. The company has built more than $1.6 billion in premium across 25+ specialty insurance programs and brands around the world focused on collector cars; pets; social services and behavioral health; addiction treatment; coastal condominiums; towing and garage; trucking; sports and fitness; professional liability for contractors, architects and engineers; habitational; contractors; leased equipment; medical stop loss and managed care; staffing; and workers’ compensation. For more information on NSM, visit nsminc.com.