Insurer Conseco's Shareholders Ok Name Change
May 11, 2010 by N/A
May 11, 2010 | Associated Press
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CARMEL, Ind. — Insurer Conseco Inc. said Tuesday its shareholders approved a name change to CNO Financial Group Inc., a switch company leaders believe will help distinguish the holding company from its main insurance units.
The new name, which includes the company’s stock ticker symbol, establishes “a unique identity that investors will recognize and that all our stakeholders will be able to keep separate from the identities of our principal insurance companies,” CEO Jim Prieur said in a statement.
The company sells Medicare supplement, long-term care, and life insurance policies, as well as annuities and other products. Its insurance companies include Bankers Life, Colonial Penn and Washington National.
The company said it will launch a new Website, CNOinc.com, on Wednesday. It had announced plans for the name change in March.
Also at Tuesday’s annual meeting, shareholders elected 10 directors including: R. Glenn Hilliard, Donna A. James, R. Keith Long, Charles W. Murphy, Debra J. Perry, C. James Prieur, Neal C. Schneider, Michael T. Tokarz, John G. Turner and David K. Zwiener to serve one-year terms, and approved the insurer’s 2010 pay for performance bonus plan.
Shares slipped 15 cents to $5.90 in morning trading.