Workers who manage assets at Eagan-based Blue Cross and Blue Shield of Minnesota look after a portfolio of investments and holdings with a value of roughly $1.6 billion.

Over the past 12 months, Blue Cross officials have decided to try leveraging this expertise by creating a business called Aware Asset Management, a federally registered investment adviser that large companies including other insurers can hire for help with managing investments.

The new business is part of a broader push for diversification at Stella, the parent company of Blue Cross that’s dabbled in recent years in several ventures that go beyond the traditional health insurance business.

To Read More