News from the companies of ManhattanLife
ManhattanLife announced today its acquisition of Western Skies MGU, expanding its presence into the self-funded medical stop loss market. Western Skies MGU is a national wholesaler and Program Manager of self-funded medical stop-loss health plans.
Stop-loss coverage is purchased by self-insured employers looking for coverage for catastrophic medical and pharmacy claims. Data available from S&P Global estimates the stop-loss market at $24 billion. In addition to providing its own Stop-loss reinsurance, ManhattanLife will continue wholesaling coverage through Western Skies MGU.
“The shift to self-insured health plans has been steadily growing over time and has been really pronounced since the inception of the Affordable Care Act,” said David W. Harris, Chief Executive Officer and Chairman of ManhattanLife. “Bringing Western Skies experienced underwriting, sales and claims talent into the mix helps achieve our market expansion objectives.”
Headquartered in Las Vegas, Western Skies MGU was established in 2019. It focuses on traditional networks and building cost effective Reference Based Pricing (RBP) reimbursement models. The result is lower operating costs for both network and RBP groups.
“Our union with ManhattanLife is a perfect match,” said Daniel Smith, President of Western Skies MGU. “The entrepreneurial culture at ManhattanLife has long fueled its growth and we are happy to be affiliated with the group. We are excited to accelerate our growth and provide brokers with unique solutions that the stop-loss market demands.”
About Manhattan Life Assurance Company of America
ManhattanLife is a group of six operating life and health insurance companies: The Manhattan Life Insurance Company; ManhattanLife Assurance Company of America; ManhattanLife of America Insurance Company; Western United Life Assurance Company; Family Life Insurance Company and Standard Life and Casualty Insurance Company. Since 1850, these companies have provided secure and innovative life and health insurance products and services throughout the United States and Puerto Rico. Manhattanlife.com
About Western Skies MGU:
Western Skies MGU is a national wholesaler and Program Manager of self-funded medical stop loss health plans, offering Reference Based Pricing (RBP) and traditional PPO network options.
Western Skies MGU underwriting is led by David Kesler email@example.com. Senior Vice President of Sales, Shaun Johnson is available to discuss employer stop loss options. Shaun.firstname.lastname@example.org.
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