A Southeastern firm that supplies stop-loss insurance for employer-funded health plans has bought a smaller stop-loss firm.

Cairnstone Inc., Miami, has acquired CapRisk L.L.C., Lancaster, Pa., from a unit of Sterling Financial Corp, Lancaster, a bank holding company with $3.1 billion in assets.

Cairnstone, which does business as Cairnstone Re, is a large managing general underwriter in the stop-loss market.

CapRisk was formed in 1996 as part of an employee benefits brokerage firm. Sterling Financial bought the benefits firm in 2004.

Sterling Financial decided to sell CapRisk because CapRisk is not a core part of the benefits brokerage operation, and the benefits brokerage operation has been performing worse than Sterling Financial had hoped, according to exhibits Sterling Financial has attached to its third-quarter Form 10-Q quarterly report.

The CapRisk office in Lancaster will become one of Cairnstone’s 12 regional offices, Cairnstone says.