The Plateau Group has rebranded as Lumos Insurance as the company prepares to expand its products and enter new markets.
The insurer said the name change follows updates to its systems, operations, and governance. The company said these changes position it to grow in its existing businesses and in markets where insurance capacity has become more limited.
"Now we're ready to grow responsibly in both our core markets and areas where disciplined carrier capacity is increasingly scarce," president and CFO Vince Bodnar said in a statement.
Lumos Insurance said it plans to broaden its business as some insurers reduce their presence in the credit insurance market. It has also revised its capital strategy as part of the rebrand.
The company traces its roots to 1981, when it was created by a group of Tennessee banks to provide insurance tied to lending, including credit life, health, and property coverage. Over time, the business expanded nationwide and added life and health products aimed at seniors, along with supplemental health coverage and specialty property and casualty programs.
Looking ahead, the insurer expects to roll out several new offerings in 2026 through partnerships with reinsurers, distributors, and administrators. These include a payout annuity that requires underwriting, long-term care plans, additional supplemental health products, and more specialty property and casualty programs.
"Credit protection delivers real economic value for policyholders and partners," Bodnar said.
Separately, the National Association of Insurance Commissioners’ Life Actuarial Task Force is reviewing possible investment rules for group annuities used in pension risk transfer deals. The goal is to better reflect the types of assets backing those obligations. The discussion does not currently include other long-term annuity liabilities, such as certain payout annuities, that may have similar characteristics.
Operating entities of Lumos parent Hoplon Capital LLC currently hold a Best’s Financial Strength Rating of A- (Excellent).
