GLASTONBURY, CT – Integris Group, a leading member-owned medical professional liability insurance company, has agreed to acquire 100% of the stock of MedMal Direct Insurance Company (MDIC) and its agency CorePRO Insurance from Physicians Trust, Inc. (PTI). The transaction is expected to close by late December 2023 subject to PTI shareholder and regulatory approval.
“We are pleased to announce this partnership with MDIC in order to continue to expand and diversify the Company’s geographical footprint,” said Stephen J. Gallant, Chief Executive Officer of Integris Group. “Combining our knowledge and expertise will enable us to provide best-in-class products and services that our practitioners need in this rapidly evolving healthcare industry.”
“We are excited to be joining Integris Group and are enthusiastic about what this partnership will mean for our policyholders and team members,“ stated Marc D. Hammett, President and Chief Executive Officer of MDIC. “This partnership brings substantial benefits to our policyholders through increased financial strength and overall product offerings.”
Integris Group operates primarily in Connecticut and Massachusetts with its headquarters located in Glastonbury, CT. MDIC operates primarily in Florida, Georgia, and Texas and is headquartered in Jacksonville, FL. The combined companies will be licensed to transact business in 23 states and the District of Columbia.
About Integris Group
Integris Group, a Mutual Insurance Holding Company, includes Integris Financial Services, Integris Insurance Company, and Integris Risk Retention Group. Integris Group is a leader in developing innovative insurance programs, services, and solutions for healthcare providers since 1984. For more information, visit the Integris Group website at www.integrisgrp.com.
About MedMal Direct Insurance Company
MedMal Direct Insurance Company is a direct-to-consumer medical professional liability carrier providing innovative coverage solutions to healthcare providers since 2010. For more information, visit the MedMal Direct Insurance Company website at www.medmaldirect.com.