Companion Life Insurance has purchased Pennsylvania-based Montgomery Management, a managing general underwriter of stop loss coverage for employer health plans, from HealthPlan Holdings of Florida.

The acquisition includes Montgomery Management’s headquarters in Blue Pennsylvania, and its other offices, located in Michigan, Kansas, North Carolina, Houston and Tampa.

Trescott Hinton, president of Companion Life said that Montgomery Management will retain its name and continue to operate independently, with its core management team in place under the current managing general underwriter model. Anne Marie McCarthy will continue serving as Montgomery Management’s president.

Mr Hinton added: We view this as an excellent strategic fit and are looking forward to significant growth opportunities. This demonstrates our commitment and desire to continue in this market.