Sirius International Insurance Group has announced that it has acquired ArmadaCorp Capital, (ArmadaGlobal), a provider of supplemental healthcare insurance products and administration services in the US.
“Sirius and ArmadaGlobal are natural partners, and this is a win-win-win transaction for all involved,” said Sirius Group chairman and CEO Allan Waters. “Over the course of the past decade, ArmadaGlobal's founders Keith Sullivan and Brian Rogers, alongside an experienced management team, have built a great business that delivers superior service to its clients and innovative products for employers. This acquisition fits well with Sirius's expertise and our long-term growth strategies, and we look forward to working with everyone at ArmadaGlobal to continue the strong performance history.”
ArmadaGlobal's current management team will continue to run the business, including Ed Walker who will step into the role of CEO for the insurance products company, ArmadaCare, and Steven Schaefer as CEO for the healthcare information technology company, ArmadaHealth. Sullivan and Rogers will serve on ArmadaGlobal's board of directors as key strategic advisors. ArmadaGlobal will remain in its current headquarters in Hunt Valley, Maryland, where it houses both the ArmadaCare and ArmadaHealth businesses.
“We are immensely grateful to all of ArmadaGlobal's dedicated employees who have helped build the company into what it is today,” said Keith Sullivan. “I know our team will be in good hands with Ed and Steve at the helm and as part of a dynamic, growing company like Sirius. Brian and I look forward to continuing our strategic role in support of the team and organisation.”
Did you enjoy reading this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
Sirius International Insurance Group, Health, Accident, M&A, ArmadaGlobal, Bermuda, US, North America