Summit Re's focus since its inception has been on medical excess-of-loss business.
Employee Benefit Trusts:
Summit Re was founded in 1999 as a result of Lincoln National Reinsurance Companies' exit from the managed care reinsurance market. All founding principals and most current staff were long-term employees of Lincoln Re. The management team remained in place and continues today.
While our initial focus was on HMO reinsurance, we began writing employer stop loss coverage in July of 2004 through a relationship with Companion Life Insurance Company, an A+ (Superior) company based in South Carolina. The years that followed have been ones of steady growth. In 2008, we outgrew our original office space and moved our headquarters to our current Fort Wayne location. We started with a staff of six and now employ more than thirty-five. Our nine satellite offices have allowed us to expand our talent base beyond the home office, which strengthens our ability to meet your needs.
In December of 2009, we were acquired by Companion Life, though we continue to operate independently. Companion Life is a leader in employer stop loss and ancillary group products. Summit Re is a leading underwriter of insurance and reinsurance solutions for health plans, insurers, providers and self-funded employers. The combination of our companies provides a strong foundation for further growth. Our management team and staff once again remained intact.
We also entered the provider excess of loss marketplace in 2010. Our participation in this line of business gives us a presence in every market related to excess-of-loss medical risk and allows us to better address the entire catastrophic medical market.
The next few years will present many challenges. We look forward to working with our clients as the market faces the challenges and opportunities brought on by health care reform. We will continue our mission of designing customized solutions to satisfy client risk management needs.
To be a recognized leader in managed health care catastrophic risk transfer.
To design customized solutions to satisfy client risk management needs.