Group 1001

Clear Spring Health to Acquire Community Care Alliance of Illinois

Chicago, IL – Clear Spring Health (“CSH”) is pleased to announce an agreement in principle to acquire and re-capitalize Community Care Alliance of Illinois, NFP (“CCAI”) out of rehabilitation. Once completed, this proposed agreement will ensure continuing coverage and service to all CCAI policyholders. 

CSH is committed to a seamless ownership transition, ensuring members will be able to continue seeing their providers and specialists as normal and without disruption. Additionally, there will be no change in medical or prescription drug coverage and members can continue to fill prescriptions at participating pharmacies. 

The proposed transaction will further CHS’s mission to provide superior service through innovative technology and steadfast commitment to its customers. CSH’s ultimate parent company, Group1001 has a proven track record of building profitable insurance companies that offer forward-thinking insurance products that are more useful, intuitive, and accessible for everyone. 

“Bringing CCAI into our family of insurance brands is another milestone in our growth strategy, which looks to bring innovation into the marketplace with intuitive products that empower our customers and our communities. Ensuring continued service with a smooth transition is our priority,” said Arthur Carlos, President & CEO of Clear Spring Health. 

Under the proposed agreement, CCAI will continue to operate out of its current location. 

The transaction is pending approval with Illinois regulators and the supervising Circuit Court. Under an Agreed Order of Rehabilitation against CCAI, Robert H. Muriel, Acting Director of the Illinois Department of Insurance, was affirmed as statutory and court-affirmed rehabilitator (“Illinois Department of Insurance”) of CCAI and its parent Family Health Network.

 About Clear Spring Health

Clear Spring Health is dedicated to helping seniors protect their health and well-being by providing Medicare Advantage plans in select counties of Colorado, Illinois, North Carolina, and Virginia, plus Georgia and South Carolina through our affiliate, EON HEALTH (REDIRECTS TO EON).

Clear Spring Health is part of Group1001, a customer-centric insurance group whose mission is to make insurance more useful, intuitive, and accessible so that everyone feels empowered to achieve financial security.

About Group1001

Group One Thousand One, LLC (“Group1001”) is an insurance holding company in the United States, with current combined assets under management of approximately $36 billion as of September 30, 2018, and a mission to make insurance and retirement products more useful, intuitive, and accessible so everyone can get the most value from their money. 

For more information about Group1001, please visit GROUP1001.COM

Media Contacts

Group1001: LOUISE THACH

search
date filter
SunMonTueWedThuFriSat

Barron’s Honors Delaware Life for Top-Ranked Annuities for Third Consecutive Year

Delaware Life, a Group 1001 company, has been recognized in a recent Barron’s article, “The Best Annuities for Income and Growth.” Noting that sales of these investment products have surged this year, the article highlights Delaware Life’s Growth Pathway®Fixed Index Annuity and Apex MYGA®Fixed Annuity as standouts in t...

Delaware Life Supports Renewable Energy Projects by Providing $400 Million Credit Facility to Fundamental Renewables

Delaware Life, acting as arranger and a lead lender, recently provided a $400 million credit facility to Fundamental Renewables, an established provider of financing for solar and other renewable energy projects. This landmark transaction is an example of an important element of Delaware Life’s investment strategy – to...

For New Article

Mike Nichols Joins Group 1001 as Chief of Sponsorship Strategy and Activations

INDIANAPOLIS – AUG. 22, 2022 — Group 1001 today announced the appointment of Mike Nichols as Chief of Sponsorship Strategy and Activations. Nichols has more than 25 years of executive experience in sports leadership and sponsorships, including more than 16 years at the LPGA (Ladies Professional Golf Association). He wi...

Introducing Clear Spring Life and Annuity Company

We are pleased to announce Guggenheim Life and Annuity Company, who recently received an upgrade from A.M. Best to a Financial Strength Rating of A- (Excellent), has a new name: Clear Spring Life and Annuity Company (“Clear Spring Life”). In addition, GL Marketing, LLC is now Clear Spring Life Marketing, LLC (“CSL Mark...

Fitch Publishes 'A-' IFS Rating for Delaware Life Insurance Co.

Fitch Ratings, a global credit rating agency, has published an Insurer Financial Strength (IFS) rating of “A-“ for Delaware Life Insurance Company. Read more about this rating HERE.

“We are pleased with the decision by Fitch Ratings and believe it is reflective of Delaware Life’s dedication to the business and our stron...

Group 1001 Becomes Majority Stakeholder in Women’s Sports-Focused Enterprise Parity

NEW YORK (Date TBD) – In a bold step to create lasting and meaningful change in women’s sports, Group 1001 will become a majority stakeholder in Parity, a startup created for both elite women athletes and their fans to combat gender pay inequities in professional sports.

As part of the acquisition, Parity will have sub...

Group 1001

Group 1001 Companies Make Capital Commitment in Support of Hometap's Institutional Asset Investment Fund

January 31, 2022 – We are proud to support Hometap’s Institutional Asset Investment Fund through a capital commitment deal led by our G1001 Innovations group. Last week, Hometap announced Group 1001’s Delaware Life Insurance Company, and other of its affiliated insurance companies, made a capital commitment to Hometap’...

Bill Shelton

Group 1001 Names Bill Shelton as Chief Marketing Officer

Group 1001 today announced the appointment of Wall Street leader Bill Shelton to the position of Chief Marketing Officer. Shelton is a financial services veteran with deep expertise in delivering transformational growth and success in both the corporate and start-up sectors. He will report to Group 1001 CEO and Preside...

Group 1001

A.M. Best Upgrades Guggenheim Life and Annuity Company

A.M. Best, a global credit rating agency, has upgraded the Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating to “a-“ (Excellent) from “bbb+” (Good) of Guggenheim Life and Annuity Company (“Guggenheim Life”). Read the press release here.

"We are thrilled that A.M. Be...