Old Republic forms accident & health subsidiary | Insurance Business America
Life & Health
Old Republic forms accident & health subsidiary
Industry veteran tapped to lead new business
Life & Health
Old Republic International Corporation (ORI) has announced the creation of a new underwriting subsidiary offering accident & health insurance products.
The new company, called Old Republic Accident & Health, Inc., is set to focus on specialized coverage, including employers’ stop-loss insurance. It will be led by Gary Nidd as president.
Nidds is a Fellow of the Society of Actuaries (FSA) and has over 33 years of industry experience. His underwriting background in accident & health products includes previous executive roles at Crum & Forster, Swiss Re, and Munich Re.
ORI president and CEO Craig R. Smiddy expressed enthusiasm about the new accident & health subsidiary and said the move is intended to expand Old Republic’s risk expertise and appetite into a new segment “that aligns with our specialized approach and focus on underwriting excellence.”
“We look forward to leveraging Gary’s experience and leadership with the Old Republic brand, resources and financial strength,” Smiddy added.
Old Republic Accident & Health is the sixth new company launched by the shareholder-owned insurance business within the past eight years, further expanding the expertise and talent of the Old Republic General Insurance Group.
Old Republic International Corporation is headquartered in Chicago and holds a place on the Fortune 500 listing of America’s largest companies. Its subsidiaries actively market, underwrite, and provide a wide range of risk management services, with a primary focus on the general and title insurance sectors.
The company’s general insurance business ranks among 50 of the nation’s largest, while its title insurance division is hailed as the third-largest in its industry.
Founded in 1923, Old Republic celebrated its 100th anniversary last August 22 by ringing the opening bell at the New York Stock Exchange.
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