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Companion Life Closes On Montgomery

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A subsidiary of Blue Cross and Blue Shield of South Carolina has acquired a managing general underwriter that sells stop-loss coverage to self-funded employer health plans.

Companion Life Insurance Company, Columbia, S.C., a company that sells group insurance products and employee-paid products sold at the worksite, has completed the purchase of Montgomery Management Corp., Blue Bell, Pa., from HealthPlan Holdings Inc., Tampa, Fla.

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Montgomery was founded in 1971 and now has 18 associates, according to HealthPlan Holdings.