SC BlueCross sells insurance subsidiary to Bermuda-based company
By Kristy Eppley Rupon, The State (Columbia, S.C.) | |
McClatchy-Tribune Information Services |
Companion has 200 employees, including 170 based in
"It's expected that
It was unclear Tuesday how many jobs
"We are in discussions with
The property-and-casualty insurer will operate in the future under a different name because BlueCross owns the Companion brand, she said.
BlueCross is selling Companion because "the property-and-casualty business is very competitive and capital intensive and ... does not fit within our strategic-growth plans," Embry-Tautenhan said
Efforts to reach a
"We are pleased to announce our agreement to acquire Companion, which continues the successful expansion of our property-and-casualty business in the U.S.,"
The sale, which is subject to regulatory approval, is expected to close by the end of the year.
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