Hannover Life Reassurance Co. of America, which provides reinsurance for life and health insurance companies, said it has been approved as an accredited reinsurer in New York.
Carmel, Ind.-based Conseco received regulatory approvals to have Wilton Reassurance Co. coinsure about 104,00 non-core life insurance policies, the company said.
Regulators in New York and Pennsylvania were among nine regulators to approve the sale of American International Group’s direct and agency auto business to Farmers Group.
As a direct result of the Patient Protection and Affordable Care Act (PPACA) – also known as ObamaCare – health insurance agent and broker commissions have been slashed by as much as 50%. Agencies have been forced to lay off employees, limit products and services, shift to other lines, and have seen significant drops in compensation.