MEDICAL,USA: Insurer in a group of insurance companies that has control over the other companies (subsidiaries). Generally, the parent company is the group policyholder.
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The oldest company out of a group of insurers.
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The senior company in a group or fleet of insurers.
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Where property-casualty (P&C) insurers constitute a group of companies, the “flagship” or senior company. The use of multiple corporate entities allows additional flexibility in working with varying state regulations. For example, an insurance company group might consist of one or more admitted insurers and one or more nonadmitted insurers operating in various states. The entire group is often referred to by the parent company’s name.
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US: Where property-casualty (P&C) insurers constitute a group of companies, the “flagship” or senior company. The use of multiple corporate entities allows additional flexibility in working with varying state regulations. For example, an insurance company group might consist of one or more admitted insurers and one or more nonadmitted insurers operating in various states. The entire group is often referred to by the parent company’s name.