Insurers

WellPoint plans debt offerings to fund Amerigroup acquisition

September 5, 2012
Bloomberg News
Indianapolis-based WellPoint Inc., the second-biggest U.S. health insurer, is planning a four-part debt offering to help fund its $4.9 billion acquisition of Amerigroup Corp, the insurer said Wednesday.
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Departing CEO Braly due to get $15M exit package

August 29, 2012
J.K. Wall
WellPoint Inc. is expected to give about $15 million in cash, stock and benefits to former CEO Angela Braly on her way out the door, based on the terms of a separation agreement filed by the company Wednesday morning. And the payout could be even more lucrative based on the company's future stock price.
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WellPoint launches search for new CEO after Braly resignation

August 29, 2012
 IBJ Staff and Bloomberg News
Investors are looking for a CEO who can right the Indianapolis-based company’s financial performance and integrate WellPoint’s recent deals to buy Medicaid insurer Amerigroup Corp. and vision company 1-800-Contacts Inc.
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Rival's strong results have WellPoint playing catch-up

August 25, 2012
J.K. Wall
UnitedHealth has been enjoying healthy profits, growing customer rolls and a rising stock price—things the Indianapolis insurer has been unable to match. That tough comparison lies behind some of the investor attacks on WellPoint CEO Angela Braly.
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WellPoint CEO's critics suggesting replacements

August 24, 2012
Bloomberg News
Another plea for the ouster of WellPoint CEO Angela Braly is spurring discussions among investors and analysts about a replacement. Top suggestions include James G. Carlson, the chief of Amerigroup Corp., and David B. Snow Jr., the former chief of Medco Health Solutions Inc.
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Big WellPoint investor Royal Capital calls for CEO's ouster

August 23, 2012
Bloomberg News
Royal Capital Management LLC is calling for the ouster of WellPoint Inc. CEO Angela Braly in a letter to the health insurer, saying she has "failed miserably."
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WellPoint dragged into Goldman Sachs suit

August 20, 2012
J.K. Wall
WellPoint Inc.’s $4.9 billion offer for Virginia-based Amerigroup Inc. apparently wasn’t the only—or even the most lucrative—offer for the Medicaid managed care company. But it was the deal surest to come to fruition before a key deadline for a big payout for Goldman Sachs & Co., according to a shareholder lawsuit filed Aug. 16 against the Amerigroup board of directors.
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WellPoint competitor Aetna to buy Coventry for $5.6B

August 20, 2012
Bloomberg News
Aetna joins rivals WellPoint Inc. and Cigna Corp. in making big acquisitions as the U.S. government expands medical coverage.
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Truck fleet insurer's move to diversify gains tractionRestricted Content

August 18, 2012
Chris O'Malley
Sales of professional liability products are still a small part of total revenue but could reach $50 million by the end of 2013.
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WellPoint least popular insurer in poll of hospital execs

August 15, 2012
Bloomberg News
WellPoint Inc., the health insurer that’s lost 19 percent of its market value over two months, is the least popular carrier among hospital executives who have to negotiate with them, an industry survey shows.
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WellPoint board member says Braly still backed as CEO

August 13, 2012
 IBJ Staff and Bloomberg News
A WellPoint Inc. director said there’s no move by the board to fire CEO Angela Braly for poor performance. Meanwhile, an expert predicted Braly will have at least until early 2013 to right the ship as the company awaits the close of the $4.9 billion Amerigroup acquisition.
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WellPoint CEO faces ire of investors who say she must go

August 10, 2012
Bloomberg News
WellPoint Inc.’s Angela Braly is facing tough questions about her performance after the Indianapolis-based health insurer reported disappointing earnings last month and cut its 2012 forecast. Investors say Braly is the problem and some are calling for her ouster.
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Baldwin & Lyons sees quarterly profit on fewer disasters

August 2, 2012
 IBJ Staff
Indianapolis-based Baldwin & Lyons Inc. on Thursday reported a profitable second quarter, a year after a series of major natural catastrophes caused a big loss for the transportation industry insurer.
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Health insurers' anti-fraud bid seeks to ease profit-limit rule

July 27, 2012
Bloomberg News
The Obama administration Thursday announced a partnership with the industry in which WellPoint Inc., UnitedHealth Group Inc. and other insurers may try to share more billing data with the government to root out fraud.
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CEO Braly gets WellPoint board backing after cutting forecast

July 26, 2012
Bloomberg News
WellPoint Inc.'s board, reacting to criticism after the health insurer cut its profit forecast on Wednesday, said the management team led by CEO Angela Braly has its full support.
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WellPoint shares sink after profit misses analyst estimates

July 25, 2012
Bloomberg News
WellPoint Inc. stock fell more than 12 percent Wednesday after the insurer's quarterly earnings missed analyst estimates and it trimmed its full-year forecast.
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CNO Financial reports big earnings gain on higher sales

July 25, 2012
 IBJ Staff
Earnings at Carmel-based CNO Financial Group Inc. jumped 42 percent in the second quarter on higher sales of its insurance products, the company announced Wednesday afternoon.
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Insurance company key to Franciscan-American Health partnershipRestricted Content

July 21, 2012
J.K. Wall
Hospital system's health insurance unit has IT infrastructure that will allow physicians to participate in Medicare's shared savings program.
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WellPoint agrees to pay for 3 children to get gene test

July 12, 2012
Bloomberg News
WellPoint Inc. said it will pay for DNA testing for three children to see if they have an inherited heart disease their father suffers from that often strikes without warning, reversing an earlier decision to deny coverage.
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WellPoint shares jump after $4.9B deal for Amerigroup

July 9, 2012
J.K. Wall
Investors and analysts like the fact that WellPoint is playing more aggressively in government-sponsored health plans, such as Medicaid and Medicare, which are projected to be the key sectors for growth for the next several years.
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WellPoint buying managed care firm for $4.9B

July 9, 2012
 IBJ Staff and Bloomberg News
The Indianapolis health insurer is buying Virginia-based Amerigroup Corp. to expand in managed care for poor and elderly patients in the Medicare and Medicaid programs.
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High court health care decision good for some, not others

June 29, 2012
Associated Press
The Supreme Court's decision Thursday to uphold President Barack Obama's historic overhaul is expected to boost many players in the health care industry, but not every corner of the sector will benefit.
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WellPoint lowers earnings forecast after $90M legal bill

June 18, 2012
Bloomberg News
Indianapolis-based WellPoint Inc. said it is lowering its profit forecast for the year by 3 percent after reaching a $90 million settlement in a class-action lawsuit.
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WellPoint seeks to diversify by buying contacts retailer

June 4, 2012
Bloomberg News, Associated Press
WellPoint Inc. plans to buy lens retailer 1-800-Contacts Inc. in a deal worth an estimated $900 million, giving the insurer its first direct-to-consumer business outside selling individual health coverage.
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WellPoint protestors harass Braly as political disclosure proposal fails

May 16, 2012
J.K. Wall
The proposal, which sought twice-yearly reports on all the health insurer's donations used for political campaigns or lobbying, was overwhelmingly voted down by WellPoint shareholders.
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