Conseco Health Insurance

Written by Updated on: December 7, 2009

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About Conseco

Conseco’s is a leading provider of financial security for life, health and retirement needs for middle market Americans. Headquartered in suburban Indianapolis, Indiana, their companies provide supplemental health insurance, life insurance and annuities. Through subsidiaries and a nationwide network of distributors, Conseco helps more than 4 million customers step up to a better, more secure future. Conseco is a Fortune 1000 company, with more than $4 billion in annual revenues.

Wiki Says

Conseco was incorporated in 1979, and began its insurance operations in 1982. In 1985, it became a public company. In 1986 Conseco acquired Lincoln Income Life Insurance for $29 per share or $32.3 million. Earlier, in mid-1985, Lincoln had agreed to be acquired by I.C.H. for $31 per share, but the merger couldn’t be consummated as the Kentucky Department of Insurance raised objections to certain expenses which Lincoln would have incurred in the merger. Lincoln also received a merger proposal from Redgate in 1985. Conseco (though not its subsidiary insurance companies) entered Chapter 11 reorganization in 2002 and emerged nine months later in 2003.

In 1998, Conseco purchased the former Greentree Financial, one of the largest financiers of mobile homes, in an attempt to diversify into consumer financial services. That attempt ended with the divestiture of GreenTree in 2003, and Conseco is now solely focused on the insurance industry.