Roemer Insurance announces divestment of Employee Benefits Division
By Wendy Cornett
“Roemer Insurance has made a strategic decision to divest itself of its Employee Benefits Division,” announced Wellington F. “Rocky” Roemer III, president and CEO of Roemer Insurance. “It is not a decision we reached easily. After bucking headwinds for years trying to create success in our health insurance division, we have decided that it’s in the best interest of our clients to align with leading health insurance brokerage The Ashley Group of Maumee, Ohio, and allow them to take over servicing our clients’ needs.”
For more than 80 years, Roemer Insurance has been a provider of trucking insurance while steadily expanding its presence in the health insurance and employee benefits markets. The passage of the Affordable Care Act in 2010 has led to a recent surge of mergers and acquisitions as insurers are driven to expand their resources to serve the needs of growing numbers of insured individuals.
“There is a movement toward combining entities to provide the resources necessary for optimal customer service,” Rocky added. “We are seeing this trend at every level of the insurance industry.”
Not only are smaller health insurance brokers combining with larger businesses, but also the insurance companies themselves are involved in merger and acquisition activity. Recent examples include the announcement from Milwaukee-based Assurant Health that the company is seeking a buyer for its employee benefits and health insurance units, and in the larger playing field, UnitedHealth Group Inc. and Anthem Inc. are both looking to buy smaller rivals to better manage the recent health care overhaul.
“Obviously, the Affordable Care Act has led to dramatic changes in the health insurance industry, and while I still believe that the health insurance broker has a place in the conversation going forward, it has become necessary for Roemer to combine operations with others to create a larger entity that will have more staying power within the health insurance industry niche,” Rocky explained.
The Ashley Group, formed in 2002, has developed into one of the fastest growing insurance agencies in northwest Ohio. Under the leadership of Timothy Paradiso, The Ashley Group offers the expertise needed to guide clients through the ever-changing world of health care reform.
“Tim Paradiso is one of the most accomplished health insurance professionals in the state of Ohio and is taking the agency to new heights,” Rocky added. “We believe our clients will be served as well or better than they have been through Roemer Insurance, and we are optimistic that this enterprise will be highly successful going forward.”
Roemer Insurance maintains its steadfast commitment to providing a wealth of trucking insurance expertise for motor carriers throughout the Midwest. Roemer’s owner/operator brand, Insure My Rig, insures truckers in nearly 40 states, and as an added resource for its clients, the firm produces The Roemer Report, an online digest that provides valuable management information for trucking executives.
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