Insurance industry
AAA is set to launch its own wireless driver aid service, dubbed Response Services Center, which will offer services such as route guidance, vehicle tracking, and emergency alerting. This move marks the first attempt by a non-automaker to offer such services independently in the United States. AAA's service
Insurance industry
Seoul and Tokyo witnessed significant developments in the insurance sector. SK Group emerged as the priority buyer for Handuk Life Insurance, while the Korean government proposed abolishing auto reinsurance. In India, IFFCO plans to diversify into general insurance and IT, allocating US$22.94 million for the business. Meanwhile, National
Insurance industry
Dresdner Bank's board, citing "breach of trust" by Deutsche Bank, announced the collapse of a planned 29bn euro merger, sparking speculation that Dresdner could be carved up between Allianz and Citigroup. The deal's collapse has raised questions about the future of Rolf Breuer, Deutsche
Insurance industry
James Dimon, a long-time lieutenant of Citigroup Co-Chairman Sanford Weill, has been appointed chairman of the board and chief executive officer of Bank One Corp. This move comes over a year after Dimon left his position as president and co-chief executive officer of Salomon Smith Barney. Dimon's extensive
Insurance industry
CareInsite, a subsidiary of Medical Manager Corporation, has completed the acquisition of substantially all of the assets of Provider Technology Group (PTG), the e-commerce network of Blue Cross Blue Shield of Massachusetts (BCBSMA). This acquisition enables CareInsite to leverage PTG's network, linking over 12,000 physicians with BCBSMA
Insurance industry
Asian insurance firms are experiencing significant growth, with major players posting substantial increases in profits. EON CMG Asia, a joint venture between Colonial Ltd and EON CMG Life, has seen a 136% rise in profits to $A33 million ($US20.09 million) in 1999, attributing the success to strong new business
Insurance industry
The insurance industry has been hesitant to fully adopt the Internet for selling their products, citing concerns over "channel conflict" and the need for real-time interaction with customers. However, technology companies are working to build systems that allow for instant quotes and simplify the process of buying insurance
Insurance industry
Australian telecommunications company Telstra Corp Ltd has acquired 100% of Insurance Network Services Pty Ltd (INS), positioning itself to provide e-commerce solutions to the insurance industry. This move aims to capitalize on growing demand for online insurance services. In related news, Royal & SunAlliance has appointed Pattanapong Somboontakerng as CEO
Insurance industry
Shares in AMP Ltd surged early in trading, reaching their highest intraday level since January 18, as speculation mounted that National Australia Bank Ltd might revamp its bid for the financial services giant. AMP's chairman revealed last week that NAB proposed a bid, but the details were vague,
Insurance industry
Europe's largest insurer, Munich-based Allianz AG, is poised to take on a significant role in the global asset management scene, following the merger of Deutsche Bank and Dresdner Bank AG. As part of the $32.55 billion deal, Allianz will acquire several lucrative fund-management operations, propelling it into
Insurance industry
The Australian market has continued its record-breaking run, with the market stretching its winning streak to five sessions. The strength in the resource, media, and telecommunications sectors offset concerns about falls on Wall Street, while Australian bond prices fell for the fifth consecutive time amid growing concern about the depreciation
Insurance industry
The year 2000 saw a flurry of activity in the insurance industry, with several major mergers and acquisitions taking place. One of the most notable deals was the proposed merger between Norwich Union and CGU, which was valued at over £20 billion and would have created Britain's largest
