HealthMarkets Acquires TeamUP Insurance Services
Continues to expand its offerings for brokers serving the Senior Market
NORTH RICHLAND HILLS, Texas – HealthMarkets Insurance Agency, Inc. (“HealthMarkets”) announced today that it has acquired TeamUP Insurance Services, Inc. (“TeamUP”), a Southern California based Medicare focused distribution organization. The acquisition of TeamUp follows HealthMarkets’ January 2016 acquisition of Excelsior Insurance Brokerage, Inc. (“Excelsior”), a nationwide group health and senior market insurance general agency. With the acquisition, TeamUP principals Michael Blea and Scott McMillan will join the Excelsior leadership team to focus on Excelsior’s continued expansion in the Senior Market.
“We believe the addition of TeamUp will enhance the growth of Excelsior’s Medicare focused distribution channel and provide us with a unique skill set to build partnerships with provider organizations in the senior market,” said Patrick O’Toole, Executive Vice President and Chief Agency Officer of HealthMarkets.
Michael Blea, joins the Excelsior team as the Vice President of National Provider Marketing and California Senior Market Sales. Scott McMilan, will serve as Director of National Provider Marketing and California Senior Product Sales.
“We are excited to build on Excelsior’s growing business as we continue to enhance our portfolio, supplemental product capabilities and technology; all of which we believe are tremendously valuable to our brokers,” said O’Toole.
About HealthMarkets Insurance Agency
HealthMarkets Insurance Agency, Inc., a wholly-owned indirect subsidiary of HealthMarkets, Inc., is authorized in all 50 states and the District of Columbia and represents more than 200 branded insurance companies. HealthMarkets offers consumers a “one-stop” shopping experience for health insurance, combining around-the-clock phone and online assistance with the personal approach of more than 3,000 licensed, local career agents nationwide. It is a leading private health insurance marketplace offering multi-channel flexibility for individuals, families and small businesses. For more information, please visit HealthMarkets.com.
About Excelsior Benefits, LLC
Excelsior Insurance Brokerage, Inc. is authorized to transact business as an insurance agency in all 50 states and the District of Columbia and does business as Excelsior Benefits Insurance Services, Inc. in California (CA LIC #0G78200) and New York. Excelsior Insurance Brokerage, Inc. is a multi-line brokerage offering solutions for independent brokers in the group and senior markets. Excelsior’s proven business model of group and senior market sales, individualized service and renewal support, together with its tenured sales team, carrier relationships and product expertise, have allowed Excelsior to build a compelling portfolio for brokers and their clients.
Cautionary Statement Related to Forward-Looking Statements
This news release may contain forward-looking statements regarding HealthMarkets Insurance Agency, Inc. and its affiliates. These forward-looking statements are neither historical facts nor assurances of future performance, and are subject to certain risks, uncertainties and assumptions which are difficult to predict and many of which are outside of our control. Such forward-looking statements can be identified by the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “objective,” “plan,” “possible,” “potential” and similar expressions. These statements are based on management’s current beliefs, expectations and assumptions, and actual results may vary materially from those included in the forward-looking statements. Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update them, whether as a result of new information, future developments or otherwise. Readers are cautioned not to place undue reliance on any forward-looking statements made by us.