EquiTrust Life Insurance Company will open new offices in Chicago, Illinois that will create 200 jobs in the coming year.
According to company officials, EquiTrust will open its first Illinois office in Chicago, where they expect to add approximately 200 employees during the coming year and could employ hundreds more in years to come. EquiTrust also announced that former National Basketball Association league player Earvin “Magic” Johnson, the popular point guard with the Los Angeles Lakers for 13 seasons, is becoming a controlling shareholder of the company. Mr. Johnson is also chairman and chief executive officer of Magic Johnson Enterprises.
Mr. Johnson said the decision to come to Illinois was based on the state’s large and dynamic economy and its pool of talented workers. “EquiTrust’s outstanding reputation and track record of helping people build for their future and plan for their retirement is a perfect example of doing well by doing good,” Johnson said. “I am proud to be part of this great organization.”
“This city and state contain a vibrant business community, with an outstanding workforce pool,” EquiTrust CEO Jeff Lange said. “The Governor and Illinois Department of Insurance have been extraordinarily welcoming and helpful in assisting us in our efforts and for that we are appreciative. We are pleased to be here. We believe it is an excellent place from which to continue implementing EquiTrust’s growth strategy and find increasingly better ways to serve the company’s various constituents.”
“We are thrilled that EquiTrust has chosen to create jobs in Illinois,” Gov. Pat Quinn said. "We are also excited to have Earvin Johnson become a corporate citizen of our state. His work in redeveloping urban communities has been widely recognized across the country, and this is a win-win for Illinois.”
“I welcome EquiTrust to Chicago and look forward to the hundreds of new employees who will be joining the most outstanding workforce in the world and calling Chicago home,” Mayor Rahm Emanuel said. “Chicago is a thriving center for the insurance industry and EquiTrust will only add to this leadership in the future.”
“EquiTrust Life Insurance Company is a welcome addition to the life insurance and annuities market in Illinois,” Illinois Department of Insurance Director Andrew Boron said. “It’s a well-rated company with relatively new ownership, which should provide increased choices for consumers in Illinois’ competitive insurance environment.”