low cost life insurance
Low-cost insurance firm names ex-Coventry CEO as chair
Story posted July 07, 2006 12:00 PM EDT
HealthMarkets, North Richland Hills, Texas, named Allen Wise as its new chairman of the board. Wise, 63, is chairman of Coventry Health Care, Bethesda, Md., where he also served as president and chief executive officer for eight years until retiring from those positions in March 2005. Wise is also a director at Magellan Health Services, a manager of behavioral health and radiology benefits, and NCO Group, a provider of accounts-receivable management and other services. HealthMarkets granted Wise 74,323 stock options at an estimated value of $3 million. The company also named Steven Shulman, chairman and CEO of Magellan Health, to its now nine-member board. Formerly known as UICI, HealthMarkets was acquired for $1.6 billion in April by a group of private equity investors led by the Blackstone Group. The company focuses on selling low-cost health and life insurance to individuals, students and small businesses. -- by Laura B. Benko
Copyright 1996-2006 Crain Communications
Story posted July 07, 2006 12:00 PM EDT
HealthMarkets, North Richland Hills, Texas, named Allen Wise as its new chairman of the board. Wise, 63, is chairman of Coventry Health Care, Bethesda, Md., where he also served as president and chief executive officer for eight years until retiring from those positions in March 2005. Wise is also a director at Magellan Health Services, a manager of behavioral health and radiology benefits, and NCO Group, a provider of accounts-receivable management and other services. HealthMarkets granted Wise 74,323 stock options at an estimated value of $3 million. The company also named Steven Shulman, chairman and CEO of Magellan Health, to its now nine-member board. Formerly known as UICI, HealthMarkets was acquired for $1.6 billion in April by a group of private equity investors led by the Blackstone Group. The company focuses on selling low-cost health and life insurance to individuals, students and small businesses. -- by Laura B. Benko
Copyright 1996-2006 Crain Communications
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