Both our organizations are dedicated to supporting and empowering policyholders and MagMutual will continue this mission
December 06, 2017
MagMutual Insurance Company, one of the leading providers of medical professional liability insurance, has acquired TPA Incorporated Protective Cell, which was owned by a series of multi-specialty Georgia physicians. The former Thomasville physician policyholders will benefit from accomplished claims defense, patient safety resources, industry-leading dividends, Owners Circle® benefits and access to UpToDate®, the leading evidence-based clinical decision support resource.
“We are pleased this group is joining the MagMutual family,” said MagMutual President and CEO Neil Morrell. “Both our organizations are dedicated to supporting and empowering policyholders and MagMutual will continue this mission.”
Recognizing the efficiency and support of the captive-insured physicians, Morrell adds that the deal proceeded smoothly.
“The acquisition of Thomasville Area Captive makes MagMutual a stronger company, and allows us to further our strategy of providing greater value to our PolicyOwners℠ as we grow. It also establishes our continued commitment to protecting and supporting physicians,” said MagMutual Executive Chairman Joseph Wilson, MD.
The proposed transaction received final corporate approval and regulatory approval by the Tennessee Department of Commerce and Insurance in November 2017.
This recent merger is one of several captive insurance company acquisitions by the MagMutual family in the past few years.
For nearly four decades, MagMutual has served as a trusted advisor and strategic ally to thousands of physicians and healthcare organizations. We continuously evolve to meet the…