Summit-based holding company Specialty Program Group, or SPG, is buying Manhattan-based insurance company CM&F Group, the two announced Oct. 4.
Under the deal, SPG will buy CM&F’s assets for an undisclosed amount. The company provides health care insurance for individuals and groups, operating primarily in the digital realm.
“SPG is poised to be at the forefront of digital transformation by providing solutions and market fulfillment in the digital space,” said their president, Christopher Treanor.
He called CM&F a “growing industry lead” which will help SPG offer its products to online providers.
“They’ve insured “millions of health care professionals… by offering online insurance to both direct to consumer and through agent and broker channels,” reads the announcement.
Once the acquisition goes through, SPG will be able to provide expanded “operational, [human resources] support, access to markets,” and a broader “digital footprint.”
