Press Release:
Press Release
News Article March 2005
NORTH RICHLAND HILLS, Texas, March 2 /PRNewswire-FirstCall/ -- UICI (NYSE:UCI) (the "Company"), a leader in the health insurance market for self- employed individuals, today reported that it has appointed James M. Messina as the President, Administrative Group, Derrick A. Duke as its Vice President and Chief Investment Officer, and Mr. Edward J. Zecchini as the Company's Chief Information Officer.
Mr. Messina formerly served as President and CEO of HealthMarket Inc., which the Company acquired in October 2004. At UICI, Mr. Messina will be responsible for the continued overall strategy and future development of the administrative operations supporting both UICI's Small Group Division, located in Norwalk, Connecticut, and UICI's Insurance Center administration operations located in North Richland Hills, Texas. Mr. Messina brings to UICI over 20 years of successful executive management and administration experience within the insurance industry.
Mr. Duke has over 15 years of senior level experience in managing insurance company investment portfolios, including extensive experience in analyzing corporate bonds, mortgage backed securities, asset backed securities, preferred stock, equity securities, collateralized loan obligations and structured hedging strategies. At UICI, Mr. Duke will be responsible for the overall management of UICI's investment portfolio and overseeing the external investment advisors retained by the Company. Mr. Duke is a Chartered Financial Analyst.
Mr. Zecchini formerly served as Executive Vice President and Chief Technology Officer of HealthMarket, Inc. Mr. Zecchini was the architect of HealthMarket's Consumer Driven Healthcare Plan (CDHP) technology and methodology, which UICI intends to use to process and manage the administrative needs of its entire suite of CDHP products. Mr. Zecchini brings to UICI over 20 years of successful leadership in technology management and software development.
"We are very fortunate to have found individuals with the backgrounds and skills possessed by Jim, Derrick and Ed," commented Bill Gedwed, President and Chief Executive Officer of UICI. "With the addition of these professionals, UICI has gained significant experience that will enable the Company to continue to develop and administer innovative insurance products at UICI."
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