Insurance industry
The bidding war for Capital Re Corp. is intensifying between Ace Ltd. and XL Capital Ltd. as both companies revise their offers to $13 a share. The potential acquisition has been taking shape since May, when Ace initially reached an agreement with Capital Re to purchase the company for $10
Insurance industry
The British life and pensions company, Legal & General (L&G), has posted a significant increase in new business, with its world-wide new life, pensions, and retail investment business reaching a record level of £464m during the nine months to September 30. This represents a 22% rise on the
Insurance industry
Bull & Lifshitz continue their pursuit of a securities class action lawsuit against UNUMProvident Corp., alleging violations of federal securities laws. The lawsuit claims that the company made false and misleading statements in press releases and SEC filings. The case affects shareholders who purchased UNUMProvident or UNUM shares during a
Insurance industry
Wechsler Harwood Halebian & Feffer LLP, along with Bull & Lifshitz, LLP, have continued their class action against UNUMProvident Corp. (NYSE: UNM) on behalf of shareholders who purchased shares during a specific period. The lawsuit alleges that defendants made false and misleading statements in press releases and filings with the
Insurance industry
A securities class action lawsuit was filed against UNUMProvident Corp., Inc. and certain officers and directors on behalf of shareholders who purchased shares during the period from February 4, 1998, to August 2, 1999. The complaint alleges that defendants made false and misleading statements in press releases and SEC filings,
Insurance industry
Turin and Milan, two of Italy's economic powerhouses, have long been allied against the interventionist appetites of Rome. However, their relationship has soured, and both cities are now vying for dominance in Italian finance. Turin seeks to expand its financial sector and reduce its dependence on the automotive
Insurance industry
Three major insurance companies, Allstate Insurance Co., Ohio Casualty Group (OCG), and State Farm Mutual Automobile Insurance Co., have collectively invested over $10 million in advertising packages on the MSN.COM network. These packages, introduced by Microsoft, cater to insurance needs in three categories: life insurance, auto insurance, and homeowners
Insurance industry
In a series of significant developments, Asian companies were actively engaging in joint ventures, mergers, and partnerships to drive growth and expand their reach. One such initiative was the joint allocation of Rp200 billion for community development by PERTAMINA/CALTEX INDONESIA over the next four years. This allocation was to
Insurance industry
Candle Corporation, a leader in industrial-strength, e-business solutions for Enterprise Application Integration (EAI), has announced that The Equitable Companies (NYSE: EQ), one of the world's leading insurance and investment organizations, has chosen Candle Roma Business Service Platform (BSP) as its Customer Relationship Management (CRM) integration platform. The Equitable
Insurance industry
Shares in Norwich Union skyrocketed nearly $900 million as industry sources revealed that the insurer is the next potential takeover target in the financial services sector. NatWest's bid for Legal & General would be the biggest takeover in the UK's financial services industry, with analysts warning
Insurance industry
National Westminster Bank PLC's interest in acquiring Legal & General Group PLC has sent shockwaves through the British banking and insurance industries, potentially creating a $48 billion financial services group. The deal, worth up to £10.7 billion ($17.19 billion), would mark a significant consolidation in the
Insurance industry
Madison Gas and Electric Co. customers will face higher electricity prices for the remainder of the year due to a 2.4% surcharge approved by the state Public Service Commission. This increase will add approximately $1.15 to the average residential customer's monthly bill of $47.50. The
