Houston International Insurance Group Announces The Acquisition Of Elite Underwriting

Posted on Monday January 12, 2015

Houston International Insurance Group (HIIG) announced today that it had closed its acquisition of the business and assets of Elite Underwriting Services (Elite), a managing general Underwriting agency (MGU) based in Malvern, Pennsylvania specializing in excess medical insurance (Medical Stop Loss) and other Accident & Health (A&H) insurance products.

Matthew S. Naylor, who has built Elite over the past 10 years along with his father Russell R. Naylor, will continue to manage operations as EVP at HIIG’s new A&H Division, operating under the name HIIG-Elite Underwriting Service, in the expanding HIIG insurance group.

Matt Naylor, Chief Executive Officer of Elite, said, “My Dad and I are very pleased to have the opportunity to join with Stephen Way and HIIG for what we are sure will be an exciting journey.”

Russ Naylor added, “With their partners The Westaim Corporation (TSX:WED.T), HIIG is well positioned financially to take their Group to a much higher level, while providing us the resources to grow our business and more efficiently service our clients and producers.”

Stephen L. Way, Chief Executive Officer of HIIG, said, “Russ and Matt Naylor are a classy family team, and Elite is a product of hard work and creativity.” Mr. Way added, “This transaction adds an important line of business to our expanding operations, but one in which we have considerable experience.”

While Chief Executive at HCC Insurance Holdings, the Company he founded in 1974, Mr. Way built a market leading Medical Stop Loss (MSL) book of business which under his leadership reached more than $800 million in gross premium.

Established in 1986, Elite is an MGU specializing in underwriting MSL and other specialty A&H products. Elite currently writes almost $100 million in gross premiums, representing two highly rated life insurance companies of which one will continue to be involved after this transaction.

HIIG-Elite will also issue policies in the HIIG subsidiary Great Midwest Insurance Company, rated A (Excellent) VIII by A.M. Best Company.

HIIG is an insurance holding company headquartered in Houston, Texas, with subsidiary offices in Atlanta; Birmingham; Chicago; Dallas; Morristown; and Oklahoma City. HIIG has four property & casualty insurance companies’ lead by Houston Specialty Insurance Company rated A-(Excellent) IX by A.M. Best Company and an underwriting agency subsidiary.

For more information call Byron Way EVP/COO at (713) 935-4800 or, visit our website at www.hiig.com.


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