Conseco Announces Plan to Consolidate Insurance Subsidiaries to Build Capital

Conseco, Inc. yesterday announced a plan to consolidate three insurance companies within its Conseco Insurance Group segment.

Under the plan, two insurance subsidiaries - Conseco Insurance Company and Conseco Health Insurance Company - would be merged into a third subsidiary - Washington National Insurance Company ("WNIC"). Subject to the approval of insurance regulators in Arizona, California and Illinois, Conseco expects to complete the merger in the fourth quarter of 2009.

Conseco Announces Plan to Consolidate Insurance Subsidiaries to Build Capital
Source: PR Newswire
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