Charlotte, N.C.-based AmWINS Group intends to acquire THB Group plc of London, as the company looks to expand its specialty insurance distribution efforts.
Old Mutual plc, a London-based financial services firm, is selling Baltimore-based U.S. life insurance unit to a New York private investment fund for $350 million.
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.