Munich Re, through its subsidiary Munich Health North America, has completed the acquisition of US Medicare provider Windsor Health Group, for $131m in cash.
Munich Re said that the acquisition of Windsor is a further step in Munich Health’s strategy to strengthen its position in the US Medicare market.
Under the brand Munich Health, Munich Re will combine its global insurance, reinsurance and risk management expertise in the field of healthcare.
The completion of the transaction enables Munich Health North America to have direct operating control of Windsor.
Windsor operates government-sponsored health plans through its Windsor Health Plan subsidiary, which provides specialty managed healthcare services in the senior segment to more than 75,000 members in Alabama, Arkansas, Mississippi, South Carolina and Tennessee.
In 2008, Munich Re acquired Sterling Life Insurance, a specialty health insurer for seniors operating in all 50 states in the US. Windsor and Sterling together will offer services to a combined enrollment of more than 200,000 members across the US.