CHICAGO, Jan 12, 2004 -- Fort Dearborn Life Insurance Company, a wholly owned subsidiary of Health Care Service Corporation (operating as Blue Cross and Blue Shield of Illinois, Blue Cross and Blue Shield of Texas and Blue Cross and Blue Shield of New Mexico), a Mutual Legal Reserve Company, has acquired Omaha Life Insurance Company from Blue Cross and Blue Shield of Nebraska. Fort Dearborn Life is part of the Preferred Financial Group which is comprised of Medical Life Insurance Company (Ohio), Colorado Bankers Life Insurance Company (Colorado) and Fort Dearborn Life Insurance Company (Illinois).

Brad Gary, Vice President and CMO of Fort Dearborn Life stated, "I am enthusiastic about this endeavor with Blue Cross and Blue Shield of Nebraska. We are confident that Fort Dearborn Life will continue to provide the high quality products and services that the Nebraska insurance community is accustomed to receiving from Omaha Life. This agreement reaffirms our commitment to our Blue Cross and Blue Shield affiliates who have been an integral part of our success and overall growth strategy."

Fort Dearborn Life's products are marketed by a number of Blue Cross and Blue Shield Plans nationwide. The Omaha Life transaction will enhance Fort Dearborn's presence in the state of Nebraska.

With a comprehensive portfolio of group and voluntary insurance and annuity products, the Preferred Financial Group has more than $1.5 billion in assets and $116 billion in life insurance in-force.
Source: Fort Dearborn Life Insurance Co.

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access