HomeLearnMGIS Announces Sale of its Retail Brokerage Unit, MGIS Property & Casualty Insurance Services, Inc. (MGIS P&C)

Long-Standing Group Physician Insurance Provider to Focus Efforts on its Specialized Insurance Underwriting and Administration Platform

SALT LAKE CITY (June 19, 2012) – The MGIS Companies, Inc. (MGIS), a leading national provider of physician insurance products, today announced the sale of its medical-professional liability insurance retail brokerage unit, MGIS P&C. This move clarifies the company’s focus on its existing national broker network and leadership position within the group-physician insurance market segments. 

“This sale highlights our commitment to our brokers, and allows us to focus more clearly on providing them the tools, programs and services they need to succeed with our group long-term disability and medical-professional liability insurance products,” said Jeffrey D. Brunken, President, MGIS. “Policyholders will continue to have access to the best insurance products, brought to them by experienced brokers backed by the high-touch service and ease of doing business that have been the MGIS trademark for more than 40 years.” 

The MGIS P&C East and West business unit accounts and in-force policies are being purchased by two separate buyers: Doctors First, Inc. and Hub International Limited. Doctors First, Inc. is a leader in providing healthcare providers several lines of insurance and related services that help physicians run their medical practice more efficiently in today’s ever-changing complicated medical field. Hub International Limited is a leading global insurance brokerage providing property, casualty, risk management, life and health, employee benefits, investment and wealth management products and services across North America and Latin America. 

“We have been seeking to acquire a brokerage with a strong background in serving the insurance and risk management needs of physician groups, and MGIS was a great fit for Hub,” said Kirk Christ, President, Hub International Insurance Services, California Operations. “This acquisition strengthens Hub’s commitment to the coverage needs of the healthcare industry and we look forward to working with the MGIS West Coast team and their customers, offering them a full suite of insurance products and services.”

“The Acquisition of MGIS East will be enhancing our retail operation to broaden our reach and grow the product lines we currently offer to the medical professional. MGIS East will benefit the entire group and help Doctors First, Inc. continue its growth as a full-service insurance services firm catering to the medical field,” said Betty Mangery, a spokeswoman for Doctors First. “The MGIS East employees are 100 percent professionals in everything they do and we are excited about their addition to our team. We feel that this acquisition is beneficial to all of our employees because it broadens the company and lengthens our span.” 

Details of the transaction were not disclosed. For more information, visit: mgis.com

About MGIS
The MGIS Companies, Inc. is the nation’s leading provider of insurance products and services specifically for physicians. For more than 43 years the company has provided specialized group disability insurance, medical-professional liability insurance, and practice improvement ancillary products and services to more than 10,000 physician groups, 900,000 group members, and 300,000 physicians nationwide. The MGIS group disability policies are backed by Sun Life Financial, one of the largest and highest-rated insurance companies in North America. The MGIS medical-professional liability insurance policies are backed by Freedom Specialty Insurance Company, a Nationwide® Company, rated A+ (Superior) by A.M. Best. With a rich tradition of service excellence, MGIS works exclusively through local brokers and benefit advisors to provide the ultimate in personalized, physician-focused insurance services. For more information visit our website mgis.com

About Hub International Limited
Headquartered in Chicago, Hub International Limited is a leading global insurance brokerage that provides a broad array of property and casualty, life and health, employee benefits, investment and risk management products and services through offices located in the United States, Canada and Brazil.www.hubinternational.com 

About Doctors First Inc.
Doctors First, Inc. is a full-service insurance and related services firm that caters specifically to the medical field specializing in professional liability. Doctors First concentrates on meeting all the insurance needs of a medical practitioner in today’s ever-changing environment. www.doctors1st.com 

Media Contact:
The MGIS Companies, Inc.
Mark Dayton
801-990-2400 x 154 
mark.dayton@mgis.com

Hub International Limited
Clark Wormer
312-279-4848
clark.wormerl@hubinternational.com 

Doctors First
Betty Mangery
724-744-5042
bmangery@doctors1st.com

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