One80 Intermediaries, a Boston-based specialty insurance broker, has acquired SelmanCo, an Ohio-based third-party administrator (TPA) and broker, for an undisclosed price.

SelmanCo caters to credit unions, associations, banks, insurance companies, and employers with life, supplemental health, and related products and services.

The third-party administrator is said to have been in the business for more than four decades and operates throughout the US as well as Canada.

SelmanCo has now become a division of One80 Intermediaries.

David Selman — SelmanCo Managing Director said: “We are pleased to join One80 Intermediaries as we are confident that our partnership will enable us to continue to grow in a nimble and efficient manner.

“Further, the One80 platform will provide enhanced opportunities for our employees and expanded services to our clients and customers with the continued adherence to the values that have made us successful.”

SelmanCo is claimed to have long-term partnerships with more than 55 insurance firms and has annual insurance premium of $300 million under administration.

The third-party administrator provides insurance services to over 1.3 million customers, and caters to more than 800 financial institutions, 70 affinity groups, and 2,100 employers.

Matthew F. Power — One80 Intermediaries President said: “One80 Intermediaries is excited to further expand our presence in the affinity market.

“We have been impressed with the SelmanCo’s market leading administrative services in the employee benefit space, as well as the company’s supplemental health insurance offerings provided to retired members of the United States Armed Forces and their families.”

  David Selman, Insurance acquisition news, Insurance industry news, Matthew F. Power, Ohio, One80 Intermediaries, SelmanCo, USA