Members of the baby boomer generation are entering retirement—in record numbers—and this trend is readily apparent in the ranks of independent insurance agents and brokers.
Many veteran producers are selling their businesses and moving off to a well-deserved time of leisure. But for some, retirement does not mean the stereotypical vision of fishing on a lake on a sunny day.
After spending a long career as an insurance producer, the last thing one might expect an agent to do would be to look out for other agents’ interests.
Daniel T. Haley retired in 2007 after selling his eponymous agency in Portland, Maine to United Insurance—a deal forming the second largest agency in the state. What he was most proud of in that transaction was that everyone kept their job.