Oak Street Funding raises $50 million in new capital
German group invests in Carmel-based company that specializes in financial services for insurance agencies.
Insurance
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Group: Health insurers urged workers to fight reform
A consumer group says health insurers UnitedHealth and WellPoint pressured their employees to contact members of Congress
and lobby against health care reform proposals that the companies disagreed with.
WellPoint CEO defends health insurance business
A health care reform push that aims at the insurance industry misses a much bigger target in its quest to lower rising costs,
WellPoint Inc. CEO Angela Braly said in a speech.
St. Francis, Anthem finalize health insurance contract
The St. Francis hospital system has finalized a multiyear agreement with Anthem Blue Cross and Blue Shield of Indiana, ending
a months-long dispute over insurance-reimbursement costs, the parties said yesterday.
Conseco consolidation to save $2.5M a year
Conseco Inc. this morning said it is consolidating three of its insurers into one, a move that will have no impact on employment
but will save the company about $2.5 million annually.
Anthem, St. Francis reach agreement in principle
The St. Francis hospital system has reached a tentative contract agreement with Anthem Blue Cross and Blue Shield of Indiana,
ending a disagreement over insurance reimbursement costs, the parties said today.
Union sues Conseco over restatement
Carmel-based Conseco Inc. faces a shareholder lawsuit by a union pension fund over an earnings restatement the company made
18 months ago.
Health reform breaking WellPoint’s way so far
With the Obama administration backing away from a government-run, "public" plan, the insurance
industry faces a much smaller threat in the form of privately run insurance co-ops.
Monarch program persuades young, male workers to care about their health
Indianapolis-based Monarch Beverage is among hundreds of central Indiana companies that
have introduced wellness programs to counteract the rising costs of health insurance and Worker’s Compensation.
Conseco profit at high end of estimates
Conseco Inc. recorded profit at the high-end of its preliminary
estimates, the company announced today.
Conseco shares jump after profit report
Shares of Conseco Inc. soared today in response to the company’s preliminary report of second-quarter profits. The Carmel-based
insurer’s stock price jumped as much as 53 percent, to $2.91, before settling a bit in the afternoon.
Investments propel Baldwin & Lyons profit
Baldwin & Lyons Inc. said today that its profit last quarter was the second-highest in company history, as investment
gains from recovering equity markets helped boost performance.
WellPoint stock falls despite quarterly profit
WellPoint Inc. shares slipped in morning trading after the company beat analysts’ expectations for second-quarter profits
but failed to raise its year-end earnings forecast. WellPoint earned $1.50 per share in the latest quarter, excluding investment
losses. Analysts were expecting $1.43 per share, according to a survey by Thomson Financial Network.
Investments propel Baldwin & Lyons profit
Baldwin & Lyons Inc. said today that its profit last quarter was the second-highest in company
history, as investment gains from recovering equity markets helped boost performance.
Conseco says profit in line with estimates
Conseco Inc. said it would meet analysts’ expectations for the second quarter by posting earnings of at least 22 cents
per share, before investment losses. The Carmel-based health insurer announced the preliminary financial results today after
the market closed.
Grain Dealers Mutual merges with Florida firm
Indianapolis-based Grain Dealers Mutual Insurance Co., one of the largest property-casualty insurers in the state, will
become part of The Main Street America Group, the Jacksonville, Fla.-based company said this morning.
Colts seal Farm Bureau sponsorship pact
The Indianapolis Colts have become one of the first National Football League teams to sell a corporate sponsorship patch
on players’ practice jersey.
Conseco reinsurance deal swaps profits for cash
Carmel-based Conseco Inc., still a bit strapped for cash, brought in a reinsurance company to shoulder some of the risk
of its life insurance policies. Minnesota-based Wilton Reassurance Co. will pay $57.5 million to Conseco as a ceding
commission to co-insure and administer 104,000 policies held by Conseco subsidiaries.
Hilbert in-law’s life insurance dispute takes odd turn
Local businessman J.B. Carlson contends the $15 million life insurance policy he took out on Stephen Hilbert’s mother-in-law
was legitimate, because she served on his firm’s board and was a key decision-maker. The mother-in-law, Germaine
“Suzy” Tomlinson, died at age 74 last September—just 32 months after the policy was issued.
Cummins sues insurers over $381M in flood claims
Cummins Inc. is battling its insurers in court, saying they’re refusing to pay
most of the company’s $381 million in claims stemming from the flood that immersed its southern Indiana
facilities a year ago.