IOA Re is excited to announce that they have been acquired by ELMC Group Inc., a manager of premier full-service managing general underwriters (“MGU’s”).
In connection with the acquisition of IOA Re, J.C. Flowers & Co. LLC (“J.C. Flowers”), a leading private investment firm dedicated to investing globally in the financial services industry, has acquired a controlling interest in ELMC and by extension IOA Re. J.C. Flowers in turn is investing significant capital into a risk taking captive designed to enhance the IOA Re proposition in aligned interest with our issuing carriers and clients.
The transactions of today mark a key milestone in the evolution of IOA Re from a best-in-class MGU, to a risk-taking entity with the talent and resources to considerably expand our reach into the markets we serve. IOA Re will continue bring a vast array of products and services to the insurance and reinsurance sector.
IOA Re wishes to emphasize its continued commitment to all lines of business, as the acquisition brings additional resources to bear in pursuing growth in these product lines.
This transition of ownership will bring significant benefits to the capabilities of IOA Re – notably the ability to take risk and benefit in a greater way from the underwriting profits it produces.
Our day to day operations remain exactly the same today as yesterday and IOA Re clients/partners will continue to work with the same people carrying the same business cards.
IOA Re will continue to offer its products on behalf of industry leaders as noted below:
- American National Insurance Company
- Companion Life
- Everest Re
- US Fire
Managed Care (HMO Re and Provider Excess) Carriers:
- American Fidelity Assurance
- United States Fire and Marine
- QBE Re
Excess Workers Compensation Reinsurance Carriers:
- The Cincinnati Insurance Company
- QBE Re
We look forward to engaging conversations about how this new platform can be of service to you and your clients needs.
For more information please reach out to your IOA Re contact, or any one of the Executive Management Team:
John O. Parker, President and CEO
Walt Dorosz, Chief Operating Officer
Jim Haggerty, Executive Vice President
Jeff Circuit, Executive Vice President
Gary Rogers, Senior Vice President
Bill Reichert, Senior Vice President
Thank you for doing business with us.
Your friends at IOA Re