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MGIS to sell its retail brokerage unit

IBR Staff Writer Published 19 June 2012

The MGIS Companies (MGIS) has announced the sale of medical-professional liability insurance retail brokerage unit, MGIS Property & Casualty Insurance Services (MGIS P&C) in an effort to focus on its specialised insurance underwriting and administration platform.

MGIS president Jeffrey Brunken said that the sale enables us to focus more clearly on providing the tools, programs and services they need to succeed with our group long-term disability and medical-professional liability insurance products.

The MGIS P&C East and West business unit accounts and in-force policies will be purchased by Doctors First and Hub International Limited.

Hub International Insurance Services California Operations president Kirk Christ said: "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."

Doctors First spokeswoman Betty Mangery said: "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."

The company will focus on existing national broker network and leadership position within the group-physician insurance market segments.