Lunn Resigns from Ceres' Board of Directors
March 19 2004 - 4:15PM
PR Newswire (US)
Lunn Resigns from Ceres' Board of Directors CLEVELAND, March 19
/PRNewswire-FirstCall/ -- Ceres Group, Inc. today announced that
Robert Lunn has resigned from its Board of Directors effective
immediately. The board is currently conducting a national search to
identify a qualified candidate to fill the vacancy created by
Lunn's resignation. (Logo:
http://www.newscom.com/cgi-bin/prnh/20000315/CRLOGO ) Lunn, a
director since February 2001, indicated that expanded business
commitments prevented him from continuing to serve as a director
for the company. "I would like to personally thank Bob for his
service on the board," said William J. Ruh, Ceres' chairman. "We
appreciate his support and commitment to Ceres over the past three
years, and wishhim well in his future endeavors." 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, 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), adverse outcomes in litigation, ability to develop
and administer competitive products, performance of our reinsurers
and failureto 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. http://www.newscom.com/cgi-bin/prnh/20000315/CRLOGO
http://photoarchive.ap.org/ DATASOURCE: Ceres Group, Inc. CONTACT:
Gayle M. Vixler, Senior Vice President of Ceres Group,
+1-440-572-8848 Web site: http://www.ceresgp.com/
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