The parent of City Securities Corp. finds itself at a crossroads with the May death of its 95-year-old vice chairman, Danny Danielson, and with his brother-in-law, Chairman John Peterson, approaching 83 years old.
The controversial co-founder and former CEO of life insurance giant Conseco Inc. (now CNO Financial Group Inc.) spearheaded the purchase of a small life insurance company operated out of Texas and plans to gradually build up its operations here.
Anthem Inc. has used the Blue Cross and Blue Shield brand names as a powerful tool on its way to becoming the nation’s second-largest health insurer. But those Blue brands now are a hurdle for Anthem’s $54.2 billion acquisition of Cigna Corp.
The Indianapolis-based health insurer said its participation in the government's health insurance exchanges—a sore subject for the Obama administration that is trying to stop the acquisition—may be at stake.
Anthem Inc. told a federal court that its proposed $48 billion merger with rival health insurer Cigna Corp. will lower consumer costs and extend coverage to more people, in response to a U.S. lawsuit seeking to block the deal.
Anthem Inc.'s proposed purchase of Cigna Corp. would diminish competition between insurers in markets around the nation, according to a complaint filed Thursday by the U.S. Justice Department that painted Anthem in an unflattering light.
The U.S. Justice Department filed an antitrust lawsuit against Indy-based Anthem Inc. and Cigna Corp. on Thursday. In recent years, the department has shown an increasing willingness to go to court to block deals it believes could stifle competition.
Connecticut Insurance Commissioner Katharine Wade contends she has no conflict of interest that would prevent her from overseeing a proposed merger between Indianapolis-based Anthem Inc. and Bloomfield, Connecticut-based Cigna Corp.
The Obama administration’s top health official is promoting the importance of competition to insurance markets, as the Justice Department is poised to decide on the massive Anthem-Cigna and Aetna-Humana merger proposals.