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UICI To Revamp Operations

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NU Online News Service, May 23, 2003, 11:48 a.m. EDT – UICI, North Richland Hills, Texas, says it is bringing William Gedwed back to revamp its operations.

Gedwed, a former UICI executive vice president, will replace Gregory Mutz as the company’s president and chief executive officer.

Gedwed will be responsible for putting more emphasis on UICI’s niche health insurance business, UICI says.

Mutz, who will become the company’s vice chairman, will be responsible for supervising and assessing the other businesses, and for handling “strategic initiatives,” the company says.

Ronald Jensen, the company’s founder and chairman, will continue to be its chairman.

The niche health insurance division at UICI sells major medical health insurance to students and self-employed people. It also sells limited-benefit health insurance policies aimed at low-paid workers in high-turnover industries.

A second company division sells student loans and college tuition installment payment plans, and a third division sells long-term care insurance, Medicare supplement insurance and other products to older consumers.

“Going forward, UICI will review all current activities that are not directly serving” the niche health insurance markets, UICI says.

Gedwed, the new president, left UICI in February 2001, but he continued to serve on the company’s board. While he was at UICI, he ran its self-employed agency division, UICI says.