Roundstone Management and Nationwide Life Insurance Company have signed off on a new managing general underwriter agreement focussing on group captives.
The agreement aims to be the only resource for a one-stop, complete, turnkey, group captive underwriting facility offering stop loss coverage.
Michael Schroeder, president of Roundstone, said: “We look forward to working with Nationwide as we strive to improve upon our stop loss captive offerings.
Our customers will benefit through our ability to deliver a complete underwriting solution in the most time and expense efficient manner in the market. Stop loss group captive growth and successful outcomes are greatly enhanced with Nationwide on our side.”
Syed Rizvi, vice president insurance officer for Nationwide, commented: “We are very excited to partner with Roundstone, a proven captive manager, to bring a unique value proposition to small to mid-size employers looking to share risks through a group captive approach and lower health care costs.
The partnership reflects our overall optimism about the continued growth of self-insurance and further expansion of the stop loss market post-ACA."
Roundstone Management is an Ohio-based insurance organisation focused on the development, underwriting and servicing of alternative risk products, including captives, rent-a-captives and specialty insurance programmes.
It uses the facilities of Roundstone Insurance, a class III Bermuda reinsurer registered as a segregated account company.