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Article: Medical Mutual rises from abyss. (Medical Mutual of Ohio)
- Article from:
- Crain's Cleveland Business
- Article date:
- March 2, 1998
- Author:
CopyrightCOPYRIGHT 1998 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Nearly a year after the former Blue Cross & Blue Shield of Ohio posted a $95 million loss and chaos broke out within its executive suite, the insurer has shown that obituaries written about it were premature.
The company, renamed Medical Mutual of Ohio, expects to post a profit for 1997 when it files its year-end financial statement with the Ohio Department of Insurance today, March 2, said Kent W. Clapp, chairman, president and chief executive officer of Medical Mutual.
Mr. Clapp declined to release detailed financial results. He said accountants still were working on the results as of last Thursday afternoon. Through the first nine months of the year, the ...