Berkshire Hathaway’s MedPro Group has entered into a definitive agreement with Swiss Re Corporate Solutions to acquire the renewal rights to SRCS’s Healthcare Professional Liability book of business effective October 11, 2019.
The agreement includes Hospital and Senior Care accounts underwritten by SRCS from the US, as well as US Hospital and International Healthcare Professional Liability accounts underwritten by SRCS from London and other offices around the world.
“This transaction is further evidence of our unwavering dedication to the challenging healthcare liability market in the US and, increasingly, around the world,” said Jean-Paul Rebillard, President, MedPro Specialty. “We are excited by this opportunity because Swiss Re Corporate Solutions’ healthcare professional liability clients and approach to underwriting and service complement our industry-leading Specialty business that provides solutions to healthcare organizations of all types.”
Current SRCS policyholders will be eligible to receive renewal offers from MedPro and its affiliates upon the expiration of their policies. To help ensure seamless service, several key members of the SRCS healthcare team are joining MedPro.
MedPro CEO Tim Kenesey added that “more healthcare providers choose MedPro over any other insurer because of our century-long commitment to delivering unsurpassed peace of mind, expertise and choice to healthcare providers and organizations. And, as Berkshire Hathaway’s chairman Warren Buffett has said, ‘MedPro is also now a favored solution for owners of healthcare liability insurers who seek the world’s most stable home for their policyholders in an increasingly unstable healthcare liability landscape.’”
With over $1.6 billion in premium, MedPro Group is the leader in customized insurance, claims and patient safety & risk solutions for more than 250,000 physicians, surgeons, dentists and other healthcare professionals, as well as hospitals, senior care and other healthcare facilities.
© 2019 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.