ELMC Risk Solutions Evolves Brand Coincident with the Expansion of its Platform and Growth
-The compilation of strategic acquisitions & initiatives makes the sum greater than the whole. –
New York, NY (February 06, 2018) – ELMC Risk Solutions, LLC, (ELMC), a manager of premier, full-service managing general underwriters (MGUs) specializing in underwriting medical stop loss insurance is pleased to announce an evolution of its corporate name, prescription drug capabilities, brand and new website to coincide with its rapidly expanding platform. “As part of its brand evolution, the company has adopted a new name that better reflects its corporate mission – ELMC Risk Solutions. In addition, both Rx Reins and Adler Rx Solutions will operate under the new ELMC Rx Solutions division”, said CEO, Richard Fleder. These changes coincide with a recent series of strategic acquisitions, partnerships and start – up initiatives that have transformed the company’s platform, resulting in the creation of innovative products and services to drive growth, several of which are already yielding strong financial results.
Funding from the private equity firm J. C. Flowers & Co., has enabled ELMC to successfully execute its buy strategy by bringing IOA Re, Midwest Underwriters, RxReins and Adler Rx Consulting, under the ELMC Risk banner over the past 18 months. At the same time, the company created its captive reinsurer, ELMC Underwriters (ELMCU), an MGU built to support ELMC’s organic growth initiatives and DiversitySL, a partnership with a minority owned insurance firm to distribute stop-loss to the diversity market. Fleder said, “bringing new solutions to market is more complex than just buying companies and blending their products. You can’t simply look for complimentary products. You must find cultures and leaders with complimentary missions – ones that share business focus, abilities, and ethical standards that mesh. The new ELMC Risk Solution companies fit that description. The company’s leadership team is comprised of highly respected, long-standing players in their respective markets. Together, we are combining efforts to create a fresh approach to the cost and quality challenges of the stop-loss marketplace validating our business model which relies on aligning like – minded MGU leaders and their businesses to create an unrivaled, industry leading stop-loss provider”.
About ELMC Risk Solutions
ELMC Risk Solutions owns, manages and seeks to acquire premier MGUs across the nation that specialize in underwriting medical stop loss insurance for self-funded health plans. It provides a best-in-class platform for delivering medical stop loss solutions to brokers, third party administrators (TPAs) and employers. For more information, visit our new website at elmcgroup.com.
About J.C. Flowers & Co
J.C. Flowers is a leading private investment firm dedicated to investing globally in the financial services industry. Founded in 1998, the firm has invested more than $15 billion of capital in 45 portfolio companies in 16 countries across a range of industry subsectors including banking, insurance and reinsurance, securities firms, specialty finance, and services and asset management. With approximately $6 billion of assets under management, J.C. Flowers has offices in New York and London. For more information, visit jcfco.com.