Fla. Insurance Regulator OKs Florida Blue Reorganization

Law360, Miami (August 16, 2013, 3:15 PM ET) -- Florida's insurance regulator on Friday authorized Florida Blue, the state's largest health insurer, to proceed with its plan to reorganize as a stock insurer under an umbrella holding company yet stopped short of allowing any sale of stock to outside investors.

The Florida Office of Insurance Regulation gave Florida Blue the green light to create a nonprofit mutual holding company that would own a for-profit insurance unit, as well as other subsidiaries through which it could offer additional services, and allow the company to better adapt...
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