Ceres (NASDAQ:CERG)
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Ceres Group Names Lynn C. Miller to its Board of Directors
CLEVELAND, May 5 /PRNewswire-FirstCall/ -- Ceres Group, Inc. today elected
Lynn C. Miller to its Board of Directors to fill the vacancy created by Robert
Lunn's resignation from the Board in March.
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Mr. Miller was most recently with Pacific Life Insurance Company where he held
the positions of executive vice president and chief executive officer of the
life insurance division. Previously, he was chief financial officer and chief
actuary of the life insurance division for Pacific Life, and served on various
industry committees and study groups. In addition, he acted as chairman of
their political action committee and president of their actuarial club. Prior
to his tenure at Pacific Life, Miller was a senior vice president and actuary
for E.F. Hutton Life Insurance Company where he created the first "Universal
Life" insurance product in 1978. Miller also held actuarial positions with
three other life insurance companies.
"Lynn has an extensive insurance industry background, making him an excellent
addition to our Board of Directors," said William J. Ruh, Ceres' chairman.
"Also, his actuarial expertise will be particularly valuable for our business.
We look forward to Lynn's contributions to our Board and are confident that his
experience will be an important resource for our company."
About Ceres Group
Ceres Group, Inc., through its insurance subsidiaries, provides a wide array of
health and life insurance products through two primary business segments.
Ceres' Medical Segment includes major medical health insurance for individuals,
families, associations, and small businesses. The Senior Segment includes
senior health, life and annuity products for Americans age 55 and over. To
help control medical costs, Ceres also provides medical cost management
services to its insureds. Ceres' nationwide distribution channels include
independent agents and its electronic distribution system. For more
information, visit http://www.ceresgp.com/ .
This news release contains certain forward-looking statements with respect to
the financial condition, results of operations and business of the company.
Forward-looking statements are statements other than historical information or
statements of current condition. In light of the risks and uncertainties
inherent in all future projections, the inclusion of forward-looking statements
herein should not be regarded as representation by the company or any other
person that the objectives or plans of the company will be achieved. Many
factors could cause actual results to differ materially from those contemplated
by such forward-looking statements, including, among others, failure to
accurately predict claims liabilities, adverse outcomes in litigation, rising
healthcare costs, business conditions and competition in the healthcare
industry, developments in healthcare reform and other regulatory issues
(including failure to meet statutory capital requirements), ability to develop
and administer competitive products, performance of our reinsurers and failure
to comply with financial and other covenants in our loan agreements, and the
failure to successfully implement the business plans for the company and its
subsidiaries. This review of important factors should not be construed as
exhaustive. Investors and others should refer to Ceres' filings with the
Securities and Exchange Commission, including its annual report on Form 10-K
for the year ended December 31, 2003, and its quarterly reports on Form 10-Q
and other periodic filings, for a description of the foregoing and other
factors. Ceres undertakes no obligation to update forward- looking statements
to reflect events or circumstances after the date hereof or to reflect the
occurrence of unanticipated events.
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DATASOURCE: Ceres Group, Inc.
CONTACT: Gayle M. Vixler, Senior Vice President of Ceres Group, Inc.,
+1-440-572-8848
Web site: http://www.ceresgp.com/