Conseco was founded in the year 1979 but was in full operation only in 1985. It covers a wide range of insurance policies ranging from health, life, and savings. Most of their policy holders are the “middle income Americans and the elders”.
Interestingly, Conseco maintains individual headquarters for each different company. For instance, Conseco Company is located in Indiana; Bankers Life and Casualty is in Chicago, Illinois, and Philadelphia is the home of Colonial Penn life. All in all, Conseco is powered by more than 3,200 devoted employees.
Back in the 2007, Conseco was herald in Fortune 500 companies for 11th consecutive year. Back then, more than 4 million policy holders were under its roof. However, when the economic crisis began in 2008, Conseco reported a loss of more than $40 million on failed investments, including a substantial amount invested on Lehman Brothers, American Insurance Group (AIG), and Washington Mutual (WaMu). It also suffered the highest drop of its stock price, which plummeted from $9.91/share in July of 2008 down to $4.00/share in October of the same year.
As mentioned earlier, Conseco aimed to provide insurance programs for middle income earner Americans in the fields of Life, Health insurance, Savings, Mutual Funds, and other financial services. Pre-need plans, such as retirement and college savings, are amongst the services they are extending.