Md. and D.C. Blues seek merger approval

Maryland Watch

February 11, 1997

Blue Cross Blue Shield of Maryland and its District of Columbia counterpart have filed with the Maryland Insurance Administration for approval of their plan to combine operations under a new holding company.

Insurance Commissioner Dwight K. Bartlett said he will probably have a public hearing on the plan, but has not yet set a schedule.

The filing with the insurance administration confirms some of the details announced by the two Blue Cross plans last month. It leaves open some details, including the location of the holding company headquarters and the name of the new entity. (While saying a decision on a name is pending, the application refers to the new holding company as HOLDCO Inc.)

William L. Jews, chief executive officer of Maryland Blue Cross, will be CEO of the holding company, as previously announced. Larry C. Glasscock, currently CEO of Blue Cross Blue Shield of the National Capital Area, will be chief operating officer of the holding company.

The deal would allow the plans to offer joint products and to market across a region including Maryland, the District of Columbia and Northern Virginia.

Pub Date: 2/11/97

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