Conseco Turnaround Includes Exiting 16 Major-Medical Markets.As part of its turnaround Turnaround A situation where a company that has had poor performance for an extended period of time experiences a positive reversal. Notes: A speculator may profit from a turnaround if he or she accurately anticipates the improvement of a poorly performing company. and restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). plan, Conseco Conseco (NYSE: CNO), originally Security Life of Indiana, is a financial services organization based in Carmel, Indiana. Conseco's insurance subsidiaries provide life insurance, annuity and supplemental health insurance products to more than 4 million customers in the Inc. plans to gradually eliminate about half of its major-medical health insurance policies in 16 states, said a company spokeswoman. Policies that will be cut from Conseco Medical Insurance Co. haven't have·n't Contraction of have not. haven't have not haven't have been turning a profit, said Pat Milner, a spokeswoman for Conseco. Conseco's exit from major-medical health markets will affect about 80,000 clients. "No one's policy is being canceled," Milner said. Conseco is exiting the market in states where it faces regulatory issues or in states that haven't kept up with medical inflation, she said. "What we are paying out in claims and expenses is more than what we are taking (in) in premium," said Milner, who noted that Conseco Medical's total second-quarter loss was $20 million. |
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