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Destiny To Sell Insurance Operation

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Trustmark Life Insurance Company has agreed to assume the employer group health insurance business placed by Destiny Health Insurance Company.

Destiny Health, Chicago., a unit of Discovery Holdings Ltd., Sandton, South Africa, is a pioneer in the U.S. health account plan market.

Destiny Health announced in February that it had found a buyer for its health insurance operations and was choosing to focus on selling its Vitality wellness incentive program as a stand-alone product.

Trustmark Life, a unit of Trustmark Mutual Holding Company, Lake Forest, Ill., now says it is taking over Destiny Health’s in-force health business through a reinsurance and service agreement.

Coverage will remain the same through the renewal date, and, at renewal, Trustmark will “offer plan options to the employers who have agreed to accept the transfer,” Trustmark says.

“We plan to work closely with the brokers serving Destiny Health clients to ensure a smooth transition,” says Warren Schreier, an executive vice president at Trustmark.