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Aug. 30, 2011 /PRNewswire/ -- Sterling Life Insurance Company and Associated Marketing of
Virginia, Inc. (AMVA) today announced that Sterling Life Insurance Company will become the issuing carrier for AMVA's NationCare product line. NationCare is the only fully compliant out-of-area solution for local health plans that need a credible option for multi-state employer groups. This is an essential product capability for regional health plans if they are to grow local market potential since they typically do not have access to insurance licenses outside their service areas. Sterling will assume the business currently insured by Fidelity Life Association.
For NationCare, this business relationship means having a nationwide product solution as well as access to the substantial resources of Sterling, which is a member of Munich Re. Currently, NationCare provides coverage for more than 6,000 members in 49 states. "We are excited about the expanded resources that will become available for our client health plans through our relationship with Sterling," said
Hollins Riley, President of Associated Marketing of
Virginia, Inc. "NationCare will now have the ability to provide retiree medical coverage and in-area dual option products for those health plans desiring such capabilities."
For Sterling Life Insurance, this means a stronger client base and an increasingly diverse business operation. "This business relationship will allow us to help more health plans provide coverage to employer groups with employees who reside outside of the health plan's service area," said
Patrick Collins, President of Sterling's Specialty Business division. "Our relationship with NationCare should enable more Americans to get the quality health care they need."
About Sterling Life Insurance
Our core purpose is to improve health and well being, peace of mind and financial security for our members when navigating health care. Sterling takes a member-centric approach with strong customer service and value-added offerings, including service to the insurance and health care provider communities. Sterling Life Insurance Company was established in 1958 and is licensed in all 50 states, plus
Washington, D.C., and has sales offices spanning the nation. The company is a subsidiary of Munich Health North America, Inc.
NationCare was founded in 2001 by its parent company Associated Marketing of
Virginia, Inc. (AMVA). AMVA's intent was to provide local health plans with a means of serving companies beyond their traditional service areas. NationCare's story has been one of steady growth, national expansion and affiliation with a number of the most prestigious health plans in the country. Today, NationCare is recognized as the managed care industry's only credible out-of-area solution for local health plans. For more information, visit
About Munich Re
Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. Munich Re creates value for clients, shareholders and staff alike. In the financial year 2010, the Group – which pursues an integrated business model consisting of insurance and reinsurance – achieved a profit of
euro 2.4bn on premium income of around
euro 46bn. It operates in all lines of insurance, with around 47,000 employees throughout the world. With premium income of around
euro 24bn from reinsurance alone, it is one of the world's leading reinsurers. Especially when clients require solutions for complex risks, Munich Re is a much sought-after risk carrier. Our primary insurance operations are concentrated mainly in the ERGO Insurance Group. With premium income of over
euro 20bn, ERGO is one of the largest insurance groups in
Germany. It is the market leader in
Europe in health and legal protection insurance. More than 40 million clients in over 30 countries place their trust in the services and security it provides. In international healthcare business, Munich Re pools its insurance and reinsurance operations, as well as related services, under the Munich Health brand. Munich Health North America, Inc. is responsible for implementing the Munich Health strategy in the North American region.
Munich Re's global investments amounting to
euro 193bn are managed by MEAG, which also makes its competence available to private and institutional investors outside the group.
SOURCE Sterling Life Insurance