A number of high-profile employee benefits administrators were acquired in 2021, significantly changing the industry’s landscape in Maryland for 2022. Confidio, PSA Insurance & Financial Services and Employee One Benefit Solutions LLC were all purchased by out-of-state firms last year, in line with a nationwide trend. The industry saw significantly more mergers and acquisitions in 2021 compared to 2020, according to a report from Otis Partners, a Chicago investment bank specializing in the insurance industry.
Consolidation hits Maryland’s employee benefits administrators industry
February 28, 2022