Coventry Chair To Guide HealthMarkets

The directors of a health insurer that is trying to remake itself have picked a new board chairman.

HealthMarkets Inc., North Richland Hills, Texas, says the new chairman will be Allen Wise, who also is chairman of Coventry Health Care Inc., Bethesda, Md., and a director at Magellan Health Services Inc., Avon, Conn.

In the past, Wise was Coventry’s president. He also has been an executive vice president at UnitedHealth Group Inc., Minnetonka, Minn.

William Gedwed, who has been HealthMarkets’ board chairman and president, is giving up the title of chairman but will continue to be the company’s president.