Specialty insurance broker One80 Intermediaries (One80) has announced the acquisition of insurance administrator SelmanCo.
Headquartered in Cleveland, Ohio, the third-party administrator and broker offers life, supplemental health and related products and services to associations and financial institutions through the US and Canada.
According to the announcement, with the acquisition of SelmanCo, One80 will further expand its presence in the affinity market.
Matthew F. Power, President, One80 Intermediaries, shared the broker’s excitement regarding this expansion.
“We have been impressed with the SelmanCo’s market leading administrative services in the employee benefit space, as well as the company’s supplemental health insurance offerings provided to retired members of the United States Armed Forces and their families,” he commented.
David Selman, Managing Director at SelmanCo, a division of One80, said: “We are pleased to join One80 Intermediaries as we are confident that our partnership will enable us to continue to grow in a nimble and efficient manner.”
SelmanCo has been in business for over 40 years and provides insurance services to more than 1.3 million customers, and serves over 800 financial institutions, 2,100 employers and 70 affinity groups.
The company enjoys long-term partnerships with over 55 insurance companies and maintains $300 million of annual insurance premium under administration.
Selman added: “Further, the One80 platform will provide enhanced opportunities for our employees and expanded services to our clients and customers with the continued adherence to the values that have made us successful.”
