A New Life/Health Broker on the Way

A group of private equity firms are forming a new life and health insurance broker. According to a press release (see here and here), the broker, called Insphere Insurance Solutions, will be formed by The Blackstone Group, Goldman Sachs and Credit Suisse. The plan: This new company expects to be the nation?s largest independent career agent distribution group offering life, health, long-term care and retirement products for small businesses and the middle-income market. Long-time insurance industry executive Phillip J. Hildebrand...