Independence Holding Company has agreed to acquire Actuarial Management Corp.
IHC, Stamford, Conn., is a player in the health insurance and employer medical stop-loss market that has been expanding retail health insurance operations.
Actuarial Management, Concord, Calif., is an actuarial firm that works on products such as fully insured health coverage for small groups, individuals and families, as well as short-term medical and employer medical stop-loss, IHC says.
IHC is not giving the price of the deal, but the company says it hopes to complete the acquisition within a few weeks after March 31, 2007.
Actuarial Management now handles actuarial work for IHC’s book of fully insured health business.
IHC plans to keep Actuarial Management’s 19 professional staffers and make Bernon Erickson Jr., president of Actuarial Management, chief health actuary for IHC, IHC says.
Erickson also will continue to be president of Actuarial Management after the closing, IHC says.