Swiss Re Corporate Solutions to acquire leading employer stop loss managing general underwriter TMS Re, Inc.

• Transaction underscores commitment to Accident & Health (A&H) market, as Swiss Re Corporate Solutions seeks to grow and expand distribution in Employer Stop Loss (ESL)
• Combining distribution, underwriting and capital management capabilities will significantly expand Swiss Re Corporate Solutions' reach in the US A&H market
• A&H gives Swiss Re Corporate Solutions greater portfolio diversification, complements other risk portfolios  

Swiss Re Corporate Solutions has acquired TMS Re, Inc. (TMS Re), a leading independent ESL managing general underwriter (MGU). The transaction includes TMS Re's operations, its team of experts and business portfolio, including new and renewal business.

Through this arrangement, Swiss Re Corporate Solutions broadens its ESL capabilities in the self-funded healthcare benefits segment. The transaction enhances the company's underwriting expertise, while strengthening its product distribution through TMS Re's direct broker and third-party administrator relationships.

Ivan Gonzalez, North America CEO of Swiss Re Corporate Solutions, said: "TMS Re is an MGU partner that shares our strategic view and commitment to customer service and operational excellence. Its team has extensive experience and deep expertise."

Mike Shevlin, Chairman and CEO of TMS Re, said: "We're excited to join the Swiss Re team to further leverage the resources of a global reinsurance organization and enable more producers and their clients to access the risk expertise of a recognized leader in the A&H space."

Travis Micucci, President and COO of TMS Re, said: "This acquisition is great news for our producers and policyholders. Mike and I founded this company by building long-term relationships with brokers and clients, which will complement Swiss Re's strengths and enhance the value proposition."

It is the intention of Swiss Re Corporate Solutions that, in due course, ESL business produced by TMS Re will be written through Swiss Re Corporate Solutions' US carrier, North American Specialty Insurance Company, rated A+ (Superior) by AM Best and AA- by Standard & Poor's.

Swiss Re Corporate Solutions and TMS Re have agreed to not disclose any financial details of the transaction. TMS Re staff will immediately become employees of Swiss Re Corporate Solutions. The acquisition has received all necessary regulatory approvals.