CHP and Berkshire Hathaway, Inc.
April 26, 2011
Consolidated Health Plans (CHP) has agreed to be acquired by Resolute Management Inc., an indirect subsidiary of Berkshire Hathaway Inc. (BHI). CHP employees can be confident that this will result in increased opportunities, growth and expansion, further adding to the long term stability and profitability of the company. This agreement also further solidifies our commitment to our insurance company partners and our clients.
Consolidated Health Plans, Inc., founded in 1993, administers over $130 million of premium nationally within a variety of products including student insurance, employer health plans , limited medical, study abroad programs, accident related activities and DBL. CHP will continue to increase its market share within its well-diversified suite of products and is committed to continuing its search for excellence and maintaining its competitive edge, responsiveness and creativity.
Berkshire Hathaway Inc. is a holding company owning subsidiaries that engage in a number of diverse business activities including property/casualty insurance and reinsurance, freight rail transportation, utilities and energy, finance, manufacturing, services and retailing. Included in the group of subsidiaries that underwrite property/casualty insurance and reinsurance is GEICO, the third-largest private passenger auto insurer in the United States, and two of the largest reinsurers in the world, General Re and the Berkshire Hathaway Reinsurance Group. Other subsidiaries that underwrite property/casualty insurance include National Indemnity Company and affiliated insurance entities, Medical Protective Company, Applied Underwriters, U.S. Liability Insurance Company, Central States Indemnity Company, Kansas Bankers Surety, Cypress Insurance Company, Boat U.S. and several other subsidiaries referred to as the Berkshire Hathaway Homestate Companies.
CHP’s management team is excited to be affiliated with BHI. While this acquisition offers the opportunity to perpetuate the CHP brand, CHP’s long run success continues to depend on its employees and managers continuing to deliver exceptional products with outstanding customer service to our clients.