This week we are reading about Cigna’s plans to broaden Medicare Advantage offerings, CNO Financial’s subsidiaries receiving A.M. Best ratings, and Integrity Marketing Group acquiring another senior market IMO.
Cigna Plans Broader Medicare Advantage Offerings | Forbes | January 10, 2019
Fresh from the completion of the Express Scripts acquisition, Cigna CEO David Cordani plans to broaden the insurer’s offerings to more seniors choosing Medicare Advantage plans as part of a major business expansion in coming years.
Cigna’s disclosure this week at the JPMorgan Healthcare Conference comes as the insurer and its rivals including Aetna, Anthem, Humana and UnitedHealth Group are expanding into new geographic regions to sell more Medicare Advantage products. All of these insurers are taking advantage of a market of more than 10,000 baby boomers aging into the Medicare population every day.
“We are well positioned today and going forward for existing and new markets,” Cordani said of future MA offerings . “Today, Cigna focuses on the individual, not the group M.A. marketplace. The group M.A. marketplace presents a future growth opportunity for us.”
CNO Financial’s Subsidiaries Get Ratings From A.M. Best | Nasdaq | January 10, 2019
Credit rating agency A.M. Best recently asserted the Financial Strength Rating (“FSR”) of A- (Excellent) and the Long-Term Issuer Credit Ratings (“Long-Term ICR”) of “a-” of CNO Financial Group, Inc.’ s CNO life/health units. Moreover, AM Best affirmed CNO Financial’s Long-Term ICR and the Long-Term Issue Credit Ratings of “bbb-“. The outlook of these ratings remains stable.
These ratings highlight the company’s solid balance sheet, impressive operating performance, neutral business profile and enterprise risk management. Per the credit rating giant, the company closed an indemnity coinsurance deal with a top counterparty wherein CNO Financial reinsured majority of its long-term care legacy business as part of its strategy. This consists of its pre-2003 issued comprehensive and nursing home long term care policies (LTC) policies.
Distributor Acquires Senior Market IMO | ThinkAdvisor | January 9, 2019
Integrity Marketing Group L.L.C. today announced that it has acquired Eldercare Insurance Services Inc. for a price that was not disclosed.
Integrity Marketing is a privately held, Dallas-based distributor of life and health products aimed at older consumers. The company was founded in 2006. It now has relationships with 100,000 independent agents located throughout the United States.
Eldercare is an insurance marketing organization (IMO) that focuses on Medicare supplement insurance, life insurance, supplemental health insurance policies, long-term care insurance policies, and other life and health products of interest to consumers 65 and older. The IMO is based in Hot Springs, Arkansas, and has about 60 employees.