CONSECO TO MERGE THREE INSURANCE UNITS

US insurance holding Conseco is to merge its Conseco Insurance and Conseco Health Insurance units into its Washington National Insurance unit in a move to increase its total adjusted statutory capital and its consolidated risk-based capital ratio. CEO Jim Prieur said that “we expect this merger to provide many benefits, chief among them which will be to increase Conseco’s total adjusted statutory capital and our consolidated risk-based capital ratio” Conseco expects the deal to provide savings of about $2.5m a year. It is expected to close in Q4.