HIIG Announces Their Strategic Investment in Creative Risk Underwriters

Posted on Monday January 18, 2016

Houston International Insurance Group (HIIG) announced today that it had completed its investment in Creative Risk Underwriters (CRU), a new Managing General Underwriting agency (MGU) based in Atlanta, Georgia, specializing in excess medical insurance (Medical Stop Loss-MSL) and other Accident & Health (A&H) insurance products.

Michael Remeika, President, and Val Flowers, Executive Vice President, are founding Partners of CRU, and both were formerly senior management at HCC Life Insurance where together they supervised more than $300 million in Medical Stop Loss and other A&H products.

Richard Richie, CEO of Risk and Insurance Consulting Services (RICS) has been instrumental in helping provide Issuing Company and reinsurance support.

HIIG has made a strategic investment in CRU by providing working capital, systems and logistical support, as well as its insurance company subsidiary Great Midwest Insurance Company, A.M. Best rated A (Excellent), for an additional issuing carrier.

Mr. Remeika said, “We are extremely pleased to be partnered with Stephen Way and HIIG and their support has been invaluable.” He added, “We intend to offer our clients a sophisticated, seamless and affordable insurance product to meet the increasingly complex and inflationary world of medical insurance and benefits.”

Matt Naylor, EVP of HIIG and Chief Executive Officer of HIIG’s A&H Division, said, “Mike and Val bring a wealth of medical insurance expertise with them and exemplary reputations and we are very pleased to be associated with their new venture.”

Mr. Way founded HCC and built a market leading MSL book of business which under his leadership reached more than $800 million in gross premium.

HIIG is an insurance holding company headquartered in Houston, Texas, with offices across the USA including Atlanta, Birmingham, Dallas, Malvern (PA), Morristown (NJ), and Scottsdale. HIIG has four property & casualty insurance companies, led by Houston Specialty Insurance Company rated A- (Excellent) IX by A.M. Best Company, and an underwriting agency subsidiary.

Contact:
L. Byron Way, EVP at HIIG
(713) 935-4800
www.hiig.com


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