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Blue Cross and Blue Shield of Illinois said Thursday that it will cut more than 90 jobs in its Chicago-based individual policy business as part of an ongoing companywide consolidation plan.
The company said 92 jobs at its Chicago facility would be affected by spring of 2011. However, the company said, 75 will be added to its Hallmark Services Corp. subsidiary in Naperville and another 11 will be added to a facility in Abilene, Texas. Get the full story »
From Pantagraph.com | State Farm Insurance acknowledged the possibility of upcoming job losses after completing an internal assessment of five departments.
Aon Corp.’s Chief Operating Officer Andrew Appel will step down at the end of the year, the world’s largest insurance brokerage said. Get the full story »
Insurers Allstate Corp. and Prudential Financial announced plans to return cash to shareholders Tuesday with a stock buyback plan and dividend increase, respectively. Get the full story »
Bloomington-based State Farm is raising its homeowners’ rates by 5.3 percent in Illinois, according to a new filing with the Illinois Department of Insurance.
The rate change kicked in on Nov. 1 for new customers. For customers renewing with State Farm, the rate hike will start on Jan. 1.
In July 2009, State Farm announced an average statewide rate increase of 13 percent for its Illinois homeowners insurance policyholders. Get the full story »
(State Farm photo)
Setting your house on fire is sure way for your Thanksgiving Day to end up a turkey. But it happens every year.
Bloomington-based State Farm alone says that during the past five years it has received more than 160 damage claims related to Thanksgiving cooking accidents. Of the 10 states with the most claims, Texas ranks first, with 33 claims in that time period, while Illinois and Ohio round out the top 3, with 22 and 18, respectively. Get the full story »
Life insurer and annuity provider Prudential Financial Inc. Wednesday posted a 7 percent profit increase in the third quarter as its retirement and investment businesses improved. Get the full story »
Unitrin Inc. said Wednesday that it named Dennis R. Vigneau as chief financial officer and senior vice president.
WellPoint Inc. and Aetna Inc. raised their profit forecasts for the year as members avoided doctor visits or delayed care to save money, while the large U.S. health insurers stand to see an improved political climate for their business under the new Congress.
Both reported higher-than-expected quarterly profits Wednesday, saying they benefited from having to pay out less in medical costs. Get the full story »
TalentDrive, the Chicago-based online resume search engine company founded by a former Leo Burnett executive, has hired former Allstate Corp. manager Jeff Tomaszewski as its chief technology officer.
TalentDrive’s chief executive is Sean Bisceglia, who in 1998 sold his technology marketing firm to Leo Burnett and later became the ad firm’s technology group CEO.
In May TalentDrive was highlighted in a U.S. News & World Report article on “How to Stand Out from the Crowd.” The company’s search engine is called TalentFilter. Get the full story »
Health Care Service Corp., the parent of Blue Cross and Blue Shield of Illinois, confirmed the health plan operator was cutting 62 jobs as part of a restructuring across the country.
The Chicago-based health insurance company, the nation’s fourth-largest health insurer, operates Blue Cross and Blue Shield plans in Illinois, Texas, New Mexico and Oklahoma.
“As part of our ongoing efforts to strategically assess and align our business with the needs of the marketplace, we made the decision to restructure a few areas of the company,” said Illinois Blue Cross spokesman Jack Segal. Get the full story »
CNA Financial Corp. has offered to purchase the stock of CNA Surety Corp. that it doesn’t own.
CNA Surety, which provides surety and fidelity bonds, said its board of directors has formed a special committee to consider the proposal. CNA Financial is offering $22 for each share. Get the full story »
CNA Financial Corp. reported a $140 million loss, or 59 cents a share, in the third quarter, as the company recorded a loss from its previously announced agreement to transfer its legacy asbestos liabilities to Berkshire Hathaway Inc. Get the full story »
American International Group said Monday that it has raised nearly $37 billion as part of its plan to pay back the government’s multi-billion dollar bailout. Get the full story »
Aon Corp. reported a 28 percent gain in third-quarter earnings from continuing operations, attributing part of it to a 4 percent revenue increase in its consulting unit, but its earnings missed estimates.
The company’s net income attributable to shareholders totaled $144 million, or 51 cents a share, compared with $120 million, or 41 cents a share, in the year-ago period. Total revenue of $1.8 billion was flat with the year-ago quarter. Get the full story »
