Fort Dearborn Life Insurance Company says it has agreed to buy a New York-domiciled life and health insurance company to be named later.
Fort Dearborn Life, Chicago, will use the company to enter the New York group benefits market, the company says.
Fort Dearborn Life is a unit of Health Care Service Corp., Chicago, the parent of Blue Cross and Blue Shield of Illinois.
Fort Dearborn Life already has signed a letter of intent to acquire the New York company through a stock purchase acquisition in 2007, Fort Dearborn Life says.