A new Minneapolis-based health reinsurer Sequoia Re has launched operations focusing on health maintenance organizations (HMO) reinsurance and provider excess. Dan Bolgar, head of health of PartnerRe, has been appointed as its CEO.
The company has received financial backing from ELMC Risk Solutions, which will also provide reinsurance leverage and noncore administrative services for Sequoia.
Sequoia will specialize in underserved niches in reinsurance – including HMO reinsurance, provider excess, medical excess reinsurance, and specialized employer stop-loss – to serve brokers and their clients with best-in-class underwriting, actuarial, cost containment, claims, and reinsurance-based risk management services.
With offices in Minneapolis, San Francisco and Kansas City, Sequoia said it will be open to serve brokers and clients during the upcoming buying season.
Bolgar joins Sequoia from reinsurer PartnerRe, where he most recently served as head of health. Previously, he was CEO of AXIS accident & health reinsurance, and prior to that was responsible for global accident and health at Willis Re.
"Sequoia is entering the market with a unique set of skills at a time when client centricity has never been so important," said Bolgar. "We look forward to working with ELMC and leveraging their resources to rapidly build a recognized market leader in this space."
Richard Fleder, CEO of ELMC, said: "We are extremely fortunate to have developed a relationship with Dan and the Sequoia team in this very specialized area of managed care reinsurance. Given the vast experience of the talented Sequoia managed care reinsurance experts, we are confident that the company will be a significant contributor to our portfolio of Managing Group and Specialty Underwriting companies."
Reinsurance, Health, Risk Management, Underwriting, Sequoia Re, PartnerRe, ELMC Risk Solutions, Richard Fleder,