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LTC Carrier Gets Offer For Broker

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Penn Treaty American Corp. says it has agreed to sell its Network Insurance Senior Health Division brokerage to an undisclosed buyer.

Penn Treaty, Allentown, Pa., says the agreement is currently nonbinding and that it will name the buyer after “definitive documentation” of terms of the deal are completed within about 30 days.

NISHD, Palm Harbor, Fla., distributes life and health insurance products through brokerage operations nationwide.

On Nov. 7, Penn Treaty completed the sale of another unit, United Insurance Group Agency Inc., Milford, Mich., to LTC Global Inc., Medford, Ore., for $14.25 million.