USHEALTH Group, Inc. Acquires Enterprise Life Insurance Company
The company is now positioned for strategic expansion into additional opportunity markets.
Fort Worth, Texas (PRWEB) December 22, 2012
Fort Worth, Texas-based insurance holding company, USHEALTH Group, Inc. recently added to its insurance company holdings by acquiring Enterprise Life Insurance Company of Irving, Texas. The transaction, which was completed on December 11th, strategically positions USHEALTH Group for planned market expansion and additional branding opportunities in 2013.
“Enterprise Life Insurance Company is strategic to USHEALTH Group´s planned expansion into key opportunity markets,” commented USHG President and CEO, Ben Cutler. “This acquisition provides USHEALTH Group a third insurance underwriting company with which, we can accelerate our plans to enter new markets with our innovative product designs focused on the under age 65 individual health insurance market.”
Through its current insurance subsidiaries, Freedom Life Insurance Company of America and National Foundation Life Insurance Company, USHEALTH Group has introduced product innovations such as fixed-rate health plans, guarantee-issue fixed indemnity coverage and optional “Step-Up” benefits riders for its line of underwritten fixed indemnity health products.
The company´s fixed-rate insurance concept, first introduced in 2006, allows consumers to lock in their health premiums for a period of up to 36 months, thereby making it easier for them to budget for their insurance needs over the long term. In 2010, the company introduced a unique line of underwritten fixed indemnity health products that provide consumers the option to “Step Up” or, increase their benefits without additional underwriting. This unique option allows consumers to purchase the appropriate level of coverage to meet their current needs yet, provides them the ability to increase coverage without additional underwriting in the event of a serious illness or injury. In 2011, the company introduced several a new sickness plans, as well as several new accident plans.
“I´m excited by the prospect of bringing these innovative product designs to new markets in 2013,” stated Troy McQuagge, President and CEO of the company´s wholly-owned distribution arm, USHEALTH Advisors. Our company has experienced exponential growth since the introduction of these products and we see the potential for even more growth, as we establish a presence in opportunity markets. Just as our Field Force of dedicated Agents enjoys today, agents in these new markets will be afforded a richly rewarding career opportunity representing a robust, innovative product portfolio backed by an exceptional, well-managed company.”
USHEALTH Group´s growth plan includes continued expansion of its presence in the company´s current markets and additional opportunity markets through development of new office locations within strategic population centers.
About Enterprise Life Insurance Company
Enterprise Life Insurance Company was originally incorporated in 1978 and is licensed to provide life, annuity and accident insurance coverage. The company was purchased in 2012 by USHEALTH Group, Inc.
About USHEALTH Group, Inc.
USHEALTH Group, Inc. is an insurance holding company based in Ft. Worth, Texas focused on providing innovative health coverage for self-employed individuals and small business owners. The goal of USHEALTH is to combine the talents of its employees and agents to market competitive and profitable insurance products, while providing superior customer service in every aspect of the company´s operations.
About USHealth Advisors, L.L.C.
USHEALTH Advisors was founded in 2009 as Security Health Advisors, L.L.C. It is a wholly-owned national health insurance distribution arm of USHEALTH Group, Inc. The company sells individual health coverage and supplementary products underwritten by The Freedom Life Insurance Company of America and National Foundation Life Insurance Company, wholly-owned subsidiaries of USHEALTH Group, Inc. The company is focused on serving America´s self-employed, small business and individual insurance market through its captive Agent sales force.
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