The parent company of American Republic has told employees in Des Moines, Iowa, and Omaha, Neb., it is getting out of the individual major medical insurance business.
The Des Moines Register reported 110 positions will be eliminated over the next three years, including 40 jobs in Des Moines and 70 in Omaha.
The president and CEO of American Enterprise Group, American Republic’s parent company, says the move is the result of regulations from the health care overhaul bill.
The company employees 330 in Des Moines and has its headquarters downtown.
It insures only about 700 Iowa residents who buy their own insurance but has about 35,000 customers nationwide.
American Enterprise will continue to sell other insurance products, such as accident, basic medical expense, critical illness, dental, and long-term care.
Was this article valuable?
Here are more articles you may enjoy.
North Carolina Adjuster and Son Charged With Embezzlement in Roof Jobs 
Undercover St. Louis Officer Beaten by Colleagues Awarded $23.5M 
Carnival Puts Miami Headquarters Up for Sale as Florida Real Estate Soars 
Wildfires Are Upending Some of the Safest Bets on Wall Street 
