American Universal Insurance, part of American Universal Insurance and Reinsurance Group (American Universal Group), has entered into a major quota share reinsurance partnership with a syndicate of two corporate-owned Lloyds to support its medical indemnity insurance portfolio.
Effective January 1, 2026, participating Lloyd’s syndicates bear 50% of premiums and losses on risks insured by the group’s main subsidiary, American Global Insurance, Inc. (AGII).
AGII is a commercial insurance and reinsurer licensed and regulated under the sovereign jurisdiction of the Modoc Nation, a federally recognized Native American tribe in Oklahoma.
AGII is believed to be the first tribal insurance company to enter into a reinsurance relationship with a Lloyd’s syndicate for this type of insurance, according to the Modoc Nation Insurance Commissioner.
“American Universal is well-positioned to continue developing health insurance solutions for employers, supported by one of the most mature insurance and reinsurance markets in the world,” the commissioner said.
AGII focuses primarily on supplementary health and fully funded health care indemnity plans tailored for small and medium-sized employers.
Many of its products are structured to comply with the federal ERISA framework and Internal Revenue Code guidelines. The company is also developing health savings accounts (HSAs), a future alternative to comprehensive plans and Affordable Care Act (ACA) marketplace products.
According to company representatives, the 50/50 quota share agreement marks an important milestone for ADII’s underwriting platform, while expanding its capacity and strengthening its risk management framework.
“The support provided through this agreement reflects confidence in AGII’s underwriting platform and health care indemnity plans,” a spokesperson for American Universal said. “This collaboration also enhances the company’s ability to manage risk while continuing to serve employer groups seeking alternative health insurance solutions.”
