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Fort Dearborn Closes On Northstar Life

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A life insurance affiliate of a major health carrier now has the ability to distribute products in all 50 states and the District of Columbia.

Fort Dearborn Life Insurance Company, a unit of Health Care Service Corp., Chicago, which, in turn, is the parent of Blue Cross and Blue Shield of Illinois, says it has completed efforts to acquire Northstar Life Insurance Company, New York, from a unit of Minnesota Mutual Insurance Companies Inc., St. Paul, Minn.

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Fort Dearborn Life has changed the name of Northstar Life to Fort Dearborn Life Insurance Company of New York.

Fort Dearborn Life wants to start writing group benefits products and individual annuity contracts in New York state through the newly acquired company by the end of the year, Fort Dearborn Life says.