News Release

Columbia, SC – Companion Life Insurance Company and its affiliates, Spectrum Underwriting Managers, Inc. (Spectrum) and Montgomery Management Corporation (MMC) are excited to announce that, effective immediately, Spectrum and MMC will combine all business operations. The combined organizations will operate and market under the Spectrum brand, under the leadership of Kurt Ridder, President.

Jon Anderson, Companion’s Vice President of Marketing & Chief Strategy Officer, Stop Loss, said, “We constantly look for ways to improve the experience of our policyholder, producer and TPA clients. Key to achieving that goal is allocating resources efficiently and effectively. We believe combining Spectrum and MMC into a single organization puts us in the best position to deliver stop loss solutions that meet the unique needs of current and prospective clients.”

Kurt Ridder, Spectrum’s President, added, “Spectrum’s 29-year history in the stop loss arena will be strengthened by the addition of key underwriting and sales talent from MMC. Further, MMC’s strong presence in complementary markets will nicely augment Spectrum’s national reach.”

Carrie Urbanelli, MMC’s President, commented, “MMC and Spectrum share common goals, relationships and protocols. We are excited for the opportunity to assimilate our talented team with theirs. Our sole focus is to offer our collective clients the best overall experience by combining our unique strengths and extensive knowledge bases.”

About Companion Life

Headquartered in Columbia, Companion Life has specialized in employee benefits since 1971. The company markets life, dental, disability, accident, specialty health — including medical stop-loss, limited benefit health plans and group supplemental retiree prescription drug plans — as well as other insurance programs, through a network of independent agents and brokers, general agents and managing general underwriters. Companion Life is licensed in 49 states and the District of Columbia. It holds an AM Best Rating of A+ (Superior).

About Spectrum Underwriting Managers, Inc.

Spectrum, founded in 1990 and acquired by Companion in 2016, is an industry-leading provider of medical stop loss insurance for employers as small as 15 employees. Spectrum’s broad product portfolio includes specific and aggregate stop loss with specific advance, aggregate accommodation, terminal liability, and no-laser renewal options, as well as its innovative Integrated Stop Loss, a bridge product designed to ease an employer’s transition from fully-insured coverage to true self-funding. Spectrum is headquartered in Indianapolis, IN.

About Montgomery Management Corporation

MMC has been providing innovative products and services to the stop loss marketplace since 1989. Acquired by Companion in 2007, MMC strives to provide first-class service with knowledgeable and friendly staff available to assist with all aspects of stop-loss placement.