In a deal estimated at $180 million, New York-based Tower Group has agreed to purchase the personal lines division of OneBeacon Insurance Group, which includes two insurance companies and two management companies.
See more: A.M. Best, acquisitions, Adirondack Insurance Exchange, auto insurance, homeowners insurance, Massachusetts, Massachusetts Homeland Insurance Co., ME, Michael Lee, Michael Miller, New Jersey Skylands Insurance Association, New Jersey Skylands Insurance Co., OneBeacon Insurance Group, personal lines, premiums, ratings, Tower Group, York Insurance Co. of Maine
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.

