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Topic: Conseco


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In the News (Fri 1 Jun 12)

  
  Conseco Senior Health Insurance Company - Home Health Care Policies FAQs
Conseco Senior is required to submit to the OIR for approval a General Notice that will go to all insureds that received notice of the March 5, 2004, Public Hearing and/or to all insureds that had an in-force home health care policy as of February 22, 2004.
Conseco Senior admitted during the public hearing that there has been poor management in past years that did contribute to its troubles but current management was brought in to “clean up” these practices.
Conseco Senior will still have to demonstrate that the proposed rate increase is actuarially sound and that it has improved claim-handing processes, but the amount of increase will not be capped by the Florida Order.
www.floir.com /orders/conseco/faq.htm   (3552 words)

  
  Conseco - Wikipedia, the free encyclopedia
Conseco NYSE: CNO is a financial services organization based in Carmel, Indiana, which had its origin as Security Life of Indiana.
Conseco (the parent company) was incorporated in 1979, began insurance operations in 1982, entered Chapter 11 reorganization in 2002 and emerged from reorganization nine months later, in 2003.
Conseco is a Fortune 500 company, with 2005 revenues of $4.3 billion.
en.wikipedia.org /wiki/Conseco   (304 words)

  
 Insurer Services
Conseco Senior is required to submit to the OIR for approval a General Notice that will go to all insureds that received notice of the March 5, 2004, Public Hearing and/or to all insureds that had an in-force home health care policy as of February 22, 2004.
Conseco Senior admitted during the public hearing that there has been poor management in past years that did contribute to its troubles but current management was brought in to “clean up” these practices.
Conseco Senior will still have to demonstrate that the proposed rate increase is actuarially sound and that it has improved claim-handing processes, but the amount of increase will not be capped by the Florida Order.
www.fldfs.com /conseco/faq.htm   (3529 words)

  
 bernie :: article :: Conseco Files for Bankruptcy   (Site not responding. Last check: 2007-10-20)
Conseco reached agreements in principal with bondholders owed $2.5 billion in public debt and banks that are due $1.5 billion.
Under the most commonly used measure to rank bankruptcies, Conseco's filing is the third largest in the United States, based on $52.3 billion in assets the company and its subsidiaries reported as of Sept. 30.
Conseco maintains the use of assets to measure bankruptcies is inappropriate in its case because its insurance operations are not included in the bankruptcy filing.
bernie.house.gov /documents/articles/20021218094550.asp   (846 words)

  
 Insurance - Letter of Reprimand Conseco Health Insurance Company
Conseco's April 1, 2002 response to the Bureau acknowledged that the insured was misinformed when she was told she couldn't suspend her Medicare Supplement coverage while she was eligible for Medicaid.
Conseco has conducted a thorough review to determine if any other Medicaid eligible enrollees have been advised that they are not entitled to suspend their Medicare Supplement policies.
Conseco Health Insurance Company is a Maine licensed life and health company, license number LHF 954, and the Superintendent is the official charged with administering and enforcing Maine's insurance laws and regulations.
www.state.me.us /pfr/ins/ins02761.htm   (613 words)

  
 Insurance - Consent Agreement - Conseco Health Ins Co
On August 15, 2002, Conseco wrote to the Bureau advising that a refund of premium would be processed as of the date the insured's cancellation letter was received.
Conseco acknowledges that this Consent Agreement is a public record within the meaning of 1 M.R.S.A. § 402 and will be available for public inspection and copying as provided for by 1 M.R.S.A. § 408, and that it will be reported to the NAIC and included in the RIRS database.
Conseco has been advised of its right to consult with counsel and has, in fact, consulted with counsel before executing this Agreement.
www.state.me.us /pfr/ins/ins021590.htm   (530 words)

  
 [No title]
Conseco is no stranger to unfavorable analyses of its financial health and strategy.
These rules require Conseco to revalue its assets and liabilities to current estimated fair value, re-establish shareholders' equity at the reorganization value determined in connection with the plan, and record any portion of the reorganization value which cannot be attributed to specific tangible or identified intangible assets as goodwill.
Conseco Inc. Conseco was incorporated in 1979 as a life insurance holding company, with the sole business activity of raising capital.
www.lycos.com /info/conseco.html   (445 words)

  
 Business: Conseco plans Chapter 11 filing
Conseco, saddled with $6.5-billion in debt from 1990s acquisitions that soured, has said it hoped to reach a so-called pre-packaged bankruptcy plan that would be submitted for a judge's review.
Conseco entered the talks after Gary Wendt abandoned a turnaround plan begun on his arrival at Conseco in 2000 to gradually reduce debt.
Conseco reported quarterly charges of $701-million for a decline in the value of securities transactions at Conseco Finance Corp., a subsidiary in St. Paul, Minn., that has suffered from high delinquency rates on mobile home loans.
www.sptimes.com /2002/11/20/Business/Conseco_plans_Chapter.shtml   (700 words)

  
 Conseco, Inc.: Admin. Proc. Rel. No. 34-49392 / March 10, 2004
Conseco Finance carried the IO securities on its books as assets and was supposed to adjust them to their fair value each quarter.
Conseco and Conseco Finance also failed to disclose the improper changes to the IO securities' basis or their beneficial effect on current period earnings.
On March 31, 2000, Conseco and Conseco Finance announced that they were reviewing the value of their IO securities and expected to record a charge to earnings, estimated at $350 million after taxes, to write-down the carrying value of its interest only securities.
www.sec.gov /litigation/admin/34-49392.htm   (1677 words)

  
 CONSECO MediaRoom - Insurance and Annuity Products - History
Conseco reaches agreement in principle on restructuring with banks and bondholders; files voluntary petition to reorganize under Chapter 11.
Conseco increases its stake in BLH, reaching 81% in June and 90% early in 1996.
Conseco expands its data processing center, doubling its size from 40,000 to 80,000 square feet.
conseco.mediaroom.com /index.php?s=partners   (1133 words)

  
 Success Stories - Conseco Finance Corp.   (Site not responding. Last check: 2007-10-20)
As a result, Conseco was living with a large amount of waste and inefficiency in their Intel server infrastructure, measurable in real dollars.
For that, Conseco turned to the IBM eServer xSeries 440, a powerful and high-performing system with tremendous manageability and scalability, noted by most industry experts as the premier Intel server on the marketplace.
Conseco has estimated that its annual total cost of ownership has been reduced approximately from $10,400 per server to $4,500 per server (estimates based upon a sampling of 32 servers running in a virtual environment).
www.datatrend.com /Dtrend/html/success/conseco.html   (838 words)

  
 Boston.com / Business / Conseco barred from freezing ex-CEO assets
A judge on Wednesday denied Conseco Inc.'s request to prohibit former CEO Stephen Hilbert from shifting assets as the insurer tries to recover $218 million in loan debt Conseco says he owes.
Conseco attorneys contend Hilbert, who presided over the company's two-decade rise and much of its fall, has been transferring wealth, including race horses, among various family trusts, including one for his son.
Conseco is seeking a temporary order to speed the court's consideration of the asset-transfer question pending a ruling on the overall lawsuit, Oslan said.
www.boston.com /business/articles/2003/11/12/conseco_barred_from_freezing_ex_ceo_assets   (570 words)

  
 Giddy: Conseco case study
So if Conseco could persuade bondholders to extend their bonds at existing rates, which range from 6.4 percent to 10.75 percent, it would borrow money at rates it could otherwise only dream of.
Conseco's bonds with a rate of 8.5 percent that mature in October were quoted at 84 bid and 85 offered, meaning that an investor could buy a $1,000 bond that reaches maturity in seven months for $850.
Mark Lubbers, a Conseco spokesman, said that less than 10 percent of the bonds were in the hands of individual investors who might not be able to tender.
pages.stern.nyu.edu /~igiddy/cases/conseco.htm   (843 words)

  
 Conseco Fieldhouse - Wikipedia, the free encyclopedia
Conseco Fieldhouse replaced Market Square Arena as the home of the Indiana Pacers on November 6, 1999.
Conseco Fieldhouse hosted WWE's The Great American Bash 2006 on July 23, 2006, the first WWE PPV in Indianapolis in nearly 10 years.
Conseco Fieldhouse has received widespread acclaim as one of the finest facilities in all of the NBA.
en.wikipedia.org /wiki/Conseco_Fieldhouse   (463 words)

  
 TheUSBroker : Conseco - The Once & Future
Conseco aimed to provide a platform to acquire insurance companies and realize gains by consolidating their operations and drastically reducing overhead, leveraging anticipated gains from the streamlining of top-heavy insurance administrations made more efficient through the innovative introduction of computerized back-offices.
Conseco developed a reputation for taking a "Dr. Death" approach to early acquisitions, lopping off managements and bringing all operational functions back to the company's home base in remote and little-known Carmel, Indiana.
Conseco enjoys one of the largest sales forces of independent agents and brokers in the industry - licensed agents who are a variable expense, commission only, not a fixed salary of captive agent expense.
www.theusbroker.com /newsletters/conseco.html   (1758 words)

  
 Conseco News
Conseco Inc. 's profit slipped dramatically in the fourth quarter amid a rise in benefits paid to policyholders and higher investment losses.
Conseco Inc. reported a large drop in fourth-quarter net income late Tuesday after the insurer was hit with significant losses in its long-term care business.
Conseco Inc. will move an unknown number of jobs from Chicago to Carmel as part of a consolidation of its back-office functions that the company expects to save it $25 million a year.
www.topix.net /com/cno   (560 words)

  
 Conseco files for bankruptcy
Financial services group Conseco Inc, which became one of the biggest US insurers by acquiring rivals during 1990s, on Wednesday said it had filed for bankruptcy, the third largest filing after WorldCom and Enron.
Although the filing was not surprising given Conseco's recent woes, it marked a dramatic downfall for a company whose stock was once a Wall Street darling.
Conseco said its insurance subsidiaries were adequately capitalised to carry on alone.
www.rediff.com /money/2002/dec/19con.htm   (360 words)

  
 [No title]
Conseco's stock price fell during that time from $16.98 to 34 cents.
Conseco emerged from bankruptcy in September 2003 as a different legal entity.
Conseco's stock fell 15 percent the day the companies announced the deal and went into a long and steady decline through all of 1999 and into 2000.
www.lycos.com /info/conseco--stock.html   (224 words)

  
 Conseco, Inc. - Securities Class Action Complaint
Conseco had a duty to promptly disseminate truthful and accurate information with respect to Conseco and to promptly correct any public statements issued by or on behalf of the Company which had become false or misleading.
Conseco acted knowingly or in such a reckless manner as to constitute a fraud and deceit upon plaintiff and the other members of the Class.
Conseco offers its executives and officers an incentive to purchase stock in Conseco by guaranteeing bank loans extended to such managers to finance their purchases of Conseco stock.
securities.stanford.edu /1013/CNC00/complaint041700.htm   (4074 words)

  
 SignOnSanDiego.com > News > Business -- Conseco seeks fast, first-half exit from Chapter 11 protection
INDIANAPOLIS – Conseco Inc. said Wednesday it plans to make a quick exit from bankruptcy court protection, even though a group of creditors who were late to the table threaten to delay and potentially tangle the insurance and finance company's reorganization.
Conseco – mired in debt from 1990s acquisitions that backfired, including a $6 billion purchase of a mobile-home lender that proved disastrous – late Tuesday became the third largest U.S. company to file for bankruptcy protection.
Conseco is the third-largest company to file for bankruptcy protection in the United States.
www.signonsandiego.com /news/business/20021218-1502-conseco-bankruptcy.html   (735 words)

  
 Conseco
Conseco is a leading provider of supplemental health insurance, life insurance and annuities for middle income Americans - throughout their working careers and beyond.
Conseco was founded in 1979, began operations in 1982, and became a public company in 1985.
Conseco's mission is to be a premier provider of insurance products to America's working families and seniors.
company.monster.com /conseco   (420 words)

  
 CONSECO - Investors
Conseco's vision is to be a leading provider of financial security for the life, health and retirement needs of middle-market Americans.
Conseco's insurance companies are leading sources for supplemental health insurance, life insurance and annuities.
Conseco is a Fortune 500 company, with more than $4 billion in annual revenues.
investor.conseco.com   (180 words)

  
 Expect Big Things from Conseco!   (Site not responding. Last check: 2007-10-20)
The Conseco insurance companies are strong, with $1.3 billion in capital, surplus and investment reserves to protect contract holders.
With one of the healthiest balance sheets in the industry, the Conseco insurance companies are solid and steady, serving millions of individuals and families from coast to coast.
Conseco Fieldhouse is one of the most critically acclaimed sports venues in operation.
www.expectbigthings.com /about.html   (248 words)

  
 TheStreet.com: Cash-Flow Leak Threatens Debt-Heavy Conseco
Faced with heavier and more expensive leverage, Conseco may have to slam on the brakes at its Green Tree subprime lending division, say Devine, the ratings agency Moody's Investors Service and one New York-based hedge fund manager who's short Conseco (a position that would allow him to profit from a decline in the company's shares).
Moody's gives Conseco and Green Tree a Ba1 rating, and since September has had both entities on positive outlook, which signals to investors that it's more likely to award Conseco a better rating than keep it the same or lower it.
He believes that Conseco's shares are poised to soar when the fears over liquidity are proven baseless.
thestreet.netscape.com /stocks/banking/816930.html   (1092 words)

  
 USATODAY.com - Conseco shows outsourcing is not always best call   (Site not responding. Last check: 2007-10-20)
Conseco, which sells life, health and annuity policies to middle-income clients, expected to save millions by moving the work to the world's second-most-populous nation.
Conseco credits the return of its customer service operations to the Midwest as a key reason it survived the third-largest bankruptcy filing in U.S. history.
Shortly after Conseco announced the radical restructuring of its debt in August 2002, the company gradually began shifting work back to the USA — beginning with agent calls.
www.usatoday.com /money/companies/management/2004-04-25-conseco_x.htm   (586 words)

  
 USATODAY.com - Conseco files for Chapter 11, third largest bankruptcy ever in U.S.   (Site not responding. Last check: 2007-10-20)
Conseco reached agreements in principal with bondholders owed $2.5 billion in public debt and banks that are due $1.5 billion.
Under the most commonly used measure to rank bankruptcies, Conseco's filing is the third largest in the United States, based on $52.3 billion in assets the company and its subsidiaries reported as of Sept. 30.
Conseco says the use of assets to measure bankruptcies is inappropriate in its case because its insurance operations are not included in the bankruptcy filing.
www.usatoday.com /money/industries/insurance/2002-12-18-conseco_x.htm   (970 words)

  
 S&P Revises Conseco Finance Corp. CreditWatch to Neg Business Wire - Find Articles
Conseco Inc.'s ratings, which were placed on CreditWatch with negative implications on Apr. 7, 2000, reflect the uncertainty surrounding Conseco Inc.'s (Conseco) short-term liquidity and its ability to successfully renegotiate or pay down the $766 million bank line maturing on Sept. 22, 2000.
The current double-'B'-minus senior debt rating on Conseco is unaffected by the decision by Conseco's new CEO, Gary Wendt, to retain the manufactured housing and home equity operations of Conseco Finance, and continues to reflect the longer-term uncertainty surrounding Conseco's ongoing earnings strength and ultimate capital structure.
Conseco is in the process of liquidating several other nonstrategic holding company assets and Conseco Finance portfolios.
www.findarticles.com /p/articles/mi_m0EIN/is_2000_August_8/ai_63945458   (592 words)

  
 Conseco stories from The Indianapolis Star
Brought in to lead Conseco's turnaround effort in June 2000, Wendt, 60, vowed to cut $3.5 billion of debt by 2003.
Conseco directors approved a $45 million signing bonus -- part of which went to GE to void the clause -- plus considerable stock awards and an incentive bonus worth $8 million based on Conseco's stock price after two years on the job.
Conseco's stock price began to swoon last fall, particularly after a third-quarter write-off of $471 million that shocked many investors.
www2.indystar.com /library/factfiles/business/companies/conseco/stories/2002_1004a.html   (1518 words)

  
 S&P Lowers Ratings on Conseco
The financial strength ratings on Conseco's insurance subsidiaries reflect the expectation that dividend payments to the parent by these subsidiaries will not be made until a definitive agreement is reached with a prospective buyer for Conseco Finance.
The ratings downgrade on Conseco Finance reflects the deteriorating financial condition of its parent, Conseco, the support of which is critical to the finance subsidiary's ability to continue to fund itself.
Conseco Finance's heavy reliance on securitization for permanent financing of the bulk of assets it originates poses a significant risk.
www.prnewswire.com /cgi-bin/stories.pl?ACCT=104&STORY=/www/story/05-03-2000/0001208508&EDATE=   (540 words)

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