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Life Company To Acquire Sister Carrier

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Fort Dearborn Life Insurance Company will be absorbing another life insurance subsidiary of Health Care Service Corp.

Health Care Service, Chicago, is best known as the parent company of Blue Cross and Blue Shield of Illinois.

Fort Dearborn was established 35 years ago and now has about $1.7 billion in assets.

Member Service Life Insurance Company, the sister company, was founded in 1977 as a subsidiary of Blue Cross and Blue Shield of Oklahoma, which is now part of Health Care Service.

Fort Dearborn will continue to market existing Member Service voluntary worksite products in Oklahoma and Texas after it merges with Member Service, Fort Dearborn says.