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Zurich agrees to buy program manager Special Insurance Services

Zurich Insurance company office headquarters

Zurich American Insurance Company (ZAIC) has entered an agreement to acquire Texas-based program manager Special Insurance Services (SIS), which offers gap medical and occupational accident insurance products.

The deal will boost Zurich’s supplemental health insurance offerings and is expected to close in early 2022, the company said in a statement

SIS develops, underwrites, distributes and administers specialty insurance products for small and mid-size employers.

"Gap medical is gaining popularity because it can help employees cover their deductibles and coinsurance, reducing out-of-pocket expenses. Through the acquisition of SIS, ZAIC can build our capacity to deliver high-quality supplemental health products like this – products that businesses and workers need, desire and deserve." said David Fike, head of life, accident and health for ZAIC.

Zurich North America has also recently expanded insurance capacity in the construction market with up to $50mn for mass timber projects.

The company also announced a myriad of leadership hires in the last few months, including The Hartford’s Linda Schultz as head of life sciences for its US middle market business unit, and Carl Sutter, as head of distribution for US middle market.

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