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To meet these goals, Conseco in March agreed to acquire Green Tree Financial Corporation, a diversified financial services company that offered home equity and home improvement loans, financing packages for the purchases of recreational vehicles and equipment, and credit cards. North American senior manager, Ken Keeler, provided rebuttal expert testimony, stating that the average-net profit on a loan was $2,100.4 Carrie Hiatt, a North American witness, further testified that approximately ten percent of certain Conseco leads resulted in funded loans. Walsh, 332 F.3d at 1158. By slashing the fat and inefficiency out of his new purchase, Hilbert was able to return the ailing insurer to profitability after only one year. 1995)). To its investors' chagrin, however, several of Conseco's past forays into nontraditional investments had not performed as well as its core insurance and financial holdings. Conseco Finance Unit to Be Split, Sold - Midland Daily News Share & Print. Co., 333 F. Supp. 07:01 AM. Removing a Lien on a Bankrupt Financial Institution. We are further convinced that North American's net worth was not the sole consideration in the jury's punitive award. Galdieri-Ambrosini v. Nat'l Realty & Dev. Green Tree was Conseco's first acquisition not related to insurance, and it was also the largest of Conseco's acquisitions--Conseco reportedly paid about $6 billion in stock for Green Tree. State Farm, 538 U.S. at 425, 123 S. Ct. 1513. Co., 866 F. Supp. In order to avoid this constitutional infirmity, the punitive damages award must be remitted to $7 million, an amount that is sufficiently punitive, but that does not violate notions of fundamental fairness. They might not be able to make things happen for you, but could give you some insight on how the county handles these matters. Targeting 'middle America,' or U.S. households with annual incomes between $25,000 and $75,000, Conseco's insurance products range from medical to life.