Zurich North America Commercial and Presidio Reinsurance Group announce strategic relationship strengthening their positions in the specialty health marketplace
San Francisco, CA. July 07, 2009. Zurich North America Commercial’s Accident & Health (A&H) group and Presidio Reinsurance Group announced today their formation of a strategic relationship to provide a broad range of risk-relief programs to the health care market.
As industry leaders with a long-term commitment to the accident and health industry, Zurich and Presidio will leverage their extensive portfolio of products and services to provide clients with a broad range of innovative financial and risk management strategies for their specific situation.
Dan Fenton, senior vice president of Group A&H at Zurich said, "Presidio is one of the largest, most respected companies in managed care. They work with select carriers to provide health insurance and reinsurance solutions, products and services to medical risk-bearing entities across the U.S. Through this relationship, Zurich's product and service capabilities will be made available to a broader market, expanding our presence in this vital market."
Zurich and Presidio's specialty health offerings include HMO and Provider Excess, Medical Reinsurance, Employer Stop Loss and an Organ and Tissue Transplant risk transfer program.
"We look forward to continuing our growth in the A&H market through this relationship with Zurich," said Dennis Heinzig, president and CEO of Presidio. "Presidio is committed to working with our clients to help them create programs to quantify, manage and limit their risks. I am confident the HMOs, health plans, insurance companies, provider groups, employers and other risk-bearing entities that turn to Presidio for solutions will be well served by our collaboration with Zurich."
Seraina Maag, president of Zurich's Specialties business unit said, "Zurich is committed to meeting the specialized needs of producers and customers in the A&H market. Our relationship with Presidio is an excellent strategic fit and demonstrates our ongoing commitment to being a premier provider of products and services in the Accident & Health market."
Presidio Reinsurance Group, Inc. provides reinsurance, insurance and a wide range of specialty services worldwide through two wholly-owned subsidiaries. Presidio Excess Insurance Services, Inc. is a market leader in providing accident and health reinsurance, insurance products and specialty services to insurance companies, HMOs, managed care organizations, healthcare systems, hospitals, medical groups and employers throughout North America. Presidio Reinsurance Management, Ltd. focuses on a broad range of accident and health reinsurance programs including catastrophe and general PA, international medical, key man, credit card, sports, passive war and terrorism, excess of loss reinsurance and proportional medical contracts. These programs are offered to insurance companies, employers, affinity groups and financial institutions worldwide. Presidio has offices in San Francisco, Minneapolis, London and Kansas City. For more information about Presidio, please visit www.PresidioRe.com.
About Zurich Financial Services
Zurich Financial Services Group (Zurich) is an insurance-based financial services provider with a global network of subsidiaries and offices in North America and Europe as well as in Asia Pacific, Latin America and other markets. Founded in 1872, the Group is headquartered in Zurich, Switzerland. It employs approximately 60,000 people serving customers in more than 170 countries. In North America, Zurich (www.zurichna.com) is a leading commercial property-casualty insurance provider serving the global corporate, large corporate, middle market, specialties and programs sectors.
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