Lumico Med Supp (GA)

[sshafran]

I certainly wouldn't call a company owned by Swiss RE a fly by night company either.

I've put 2 with Lumico so far (applied 3 - 1 declined - writing another this coming week).

I'm always slow to start with new carriers. For example, this past week, I did my first with Americo - I basically waited until the carrier had a few years.

Your comment made me look a bit more into Swiss RE - pretty impressive, global company. 2nd largest re-insurer world-wide?

Before Lumico, I had never heard of Swiss RE. Seems they do a lot of reinsurance on the P&C side.

Having said all of that, do you think they are a carrier who will be fairly stable? (I know this question is almost impossible to answer - but just asking for a gut feeling on them).

I was able to get a higher contract with Lumico based on production, and would like to put a good amount of cases with them.

 

[somarco]

Yes, Swiss Re is huge. One of the largest reinsurance carriers in the world.

But that means nothing when it comes to subsidiaries. The same is true when talking about subsidiary carriers of Cigna, Aetna, Omaha . . . .

The list goes on.

If you have ever known a subsidiary that withdrew from the market you know what happens. And it can and will happen again.

The subsidiary was bought and can be sold.

Medigap is a new product line for them and appears to be their only health line. Primarily a life carrier owned by a mostly P&C carrier.

 

[goillini52]

I've put 2 with Lumico so far (applied 3 - 1 declined - writing another this coming week).

I'm always slow to start with new carriers. For example, this past week, I did my first with Americo - I basically waited until the carrier had a few years.

Your comment made me look a bit more into Swiss RE - pretty impressive, global company. 2nd largest re-insurer world-wide?

Before Lumico, I had never heard of Swiss RE. Seems they do a lot of reinsurance on the P&C side.

Having said all of that, do you think they are a carrier who will be fairly stable? (I know this question is almost impossible to answer - but just asking for a gut feeling on them).

I was able to get a higher contract with Lumico based on production, and would like to put a good amount of cases with them.

Yep, there's no way of knowing. Size of the company has nothing to do with rate stability(Aetna, MOFO, etc.)

*I posted this earlier but it didn't show.

 

[somarco]

Manhattan (100 yr old carrier) was in the Medigap business about 5 yrs before they were shelved.

AFLAC about 15 months.

Size or market tenure means nothing.

 

[hockeyday]

Manhattan (100 yr old carrier) was in the Medigap business about 5 yrs before they were shelved.

AFLAC about 15 months.

Size or market tenure means nothing.

Who do you write? You have nothing good to say about any company

 

[goillini52]

Manhattan (100 yr old carrier) was in the Medigap business about 5 yrs before they were shelved.

AFLAC about 15 months.

Size or market tenure means nothing.

Manhattan's playing the shell game Bob. Family Life, Manhattan and now Western United.

 

[somarco]

Who do you write? You have nothing good to say about any company

Only use the ones I like.

Manhattan's playing the shell game Bob. Family Life, Manhattan and now Western United.

Yeah, I know.

Waited almost 3 years before writing anything with MLIC. Now the rate increases are killing my clients.

 

[goillini52]

Only use the ones I like.



Yeah, I know.

Waited almost 3 years before writing anything with MLIC. Now the rate increases are killing my clients.

Hahaha, that's why you should write the new companies right away. They could've had 3 years of good rates.

 

[senior-advisor-indiana]

Only use the ones I like.



Yeah, I know.

Waited almost 3 years before writing anything with MLIC. Now the rate increases are killing my clients.

You shouldn’t have waited 3 years that way they could have enjoyed the low premium longer...

 

[somarco]

You shouldn’t have waited 3 years that way they could have enjoyed the low premium longer...

And lower commission . . .