Conseco has made management changes and put the brakes on its individual annuity and life insurance lines. Liz Georgakopoulos, once president of the insurance unit, is no longer with the company, and three senior members of her team have also left. Bill Shea, CEO, has assumed the role of president of the insurance group.

"He has created a six-point plan for strengthening the Conseco insurance group of companies," a company spokeswoman said, adding the Conseco has no plans to replace Georgakopoulos.

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