Munich Reinsurance America Inc. has agreed to acquire full ownership of Cairnstone Inc.
Munich Re, Princeton, N.J., is a unit of M?nchener R?ckversicherungs-Gesellschaft A.G., Munich.
Cairnstone, Miami, is a large managing general underwriter in the U.S. medical stop-loss market.
The companies are not saying how much Munich Re is paying for Cairnstone, but they say they hope to complete the deal in September.
Cairnstone would keep its name and continue to operate independently under the direction of its current managers, the companies say.