THOMASVILLE, GA -- (Marketwired) -- 07/18/13 -- Globaltech Holdings, Inc. (OTC Pink: GLBH) reported today that in light of the recently announced delay in the employer mandate for enrollment in the Affordable Care Act (ACA), it is re-focusing its marketing efforts towards high margin, traditional Life and Health insurance industry products. This decision was based on GLBH board members reviewing the actions of Washington and the announcements regarding the (ACA).
Chairman and CEO, Ormand Hunter stated, "Recent changes in the ACA have caused the company to take pause and evaluate its primary direction. We feel that the Affordable Care Act will prove to be a profitable venture for our company. It is our intention to continue to monitor the ACA and move into that market when the time is right." Mr. Hunter further stated, "Unfortunately, with the recent announcements coming out of Washington, we must adapt to government actions and capture market share in current high margin insurance sectors such as traditional life and health."
About Global Agency Holdings, Inc.:
Global Agency Holdings, Inc. (GLBH) is a progressive insurance brokerage firm that provides turnkey solutions to protect their client's financial interests. The Company's comprehensive approach includes personal and business insurance programs from personal auto, home, health, life, as well as commercial auto, general liability, workers compensation and group/life to meet all of their client's insurance needs.
Global Agency Holdings, Inc. remains focused on continued expansion through acquisitions of insurance agencies in the Southeast section of the United States.
For more information on Global Agency Holdings, Inc. please visit http://glbholdings.com/ or contact Investor Relations at (973) 351-3868.
Safe Harbor Statement:
Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby.
The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management, as well as assumptions made by any information currently available to the Company or its management. When used in this document, the words "anticipate," "estimate," "expect," "intend," "plans," "projects," and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties.
Taylor Capitol, Inc.
OCTOBER 31, 2014
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