Insurance industry
Dutch insurer Aegon NV reported a 25% increase in net income for 1998, driven by growth in core life insurance and pension activities in the Americas, the Netherlands, and the UK. The company's net income rose to 2.75 billion guilders, up from 2.21 billion guilders in
Insurance industry
The St. Paul Companies, a $38 billion asset insurance holding company, has partnered with Mellon Global Cash Management to provide its comprehensive accounts receivable solution. The solution will combine paper and electronic collections tailored to meet The St. Paul's specific collection needs. This partnership will utilize Mellon'
Insurance industry
Australian-based insurance and funds management group AMP is on track to complete its £1.3bn acquisition of UK insurer National Provident Institution within the third quarter of 1999. This takeover, launched in late 1998, will make AMP the UK's fifth-largest insurer in terms of assets. AMP's
Insurance industry
Cleveland's Gliatech Incorporated has welcomed John Redmond as its new vice president and general manager of medical devices. He joins from the NeuroCare Group in Wisconsin, where he was vice president of marketing and business development. Gliatech focuses on developing proprietary resorbable medical devices that reduce surgical scarring
Insurance industry
The Dutch insurance giant Aegon NV has made a bold move to expand its presence in the US life insurance market with the acquisition of Transamerica Corp. for $9.7 billion in cash and stock. The acquisition, announced on February 18, 1999, will make Aegon the third-largest life insurer in
Insurance industry
Aegon N.V., the parent company of Aegon USA Inc., has announced an agreement to acquire San Francisco-based insurance giant Transamerica Corp. in a massive cash and stock deal valued at $9.7 billion. This move marks the second-largest acquisition in the US life insurance industry to date. The corporate
Insurance industry
Kemper Insurance Cos. has made a significant investment in modernizing its paperwork processes through a six-year contract with DocuCorp International worth millions of dollars. The deal includes the licensing of five integrated document automation products: DocuCreate, DocuMaker, DocuSave, PowerOffice, and TransAll. This move is part of Kemper's efforts
Insurance industry
The latest update to the Acotec Remote Access Manager, version 2.0, has been announced, bringing comprehensive policy-based management and unique event management functionality to mission-critical dial-up networks based on Microsoft Windows NT Server. This powerful tool enables both local and remote management of any number of RAS servers, providing
Insurance industry
President Bill Clinton highlighted the need to meet the rising medical costs of the ageing baby boomer generation while focusing on boosting social security. The budget prioritizes the $217bn Medicare scheme, which is expected to run out of cash in 2008. To maintain the programme, Mr. Clinton proposed using one
Insurance industry
Ace Ltd., a leading insurer, has obtained $1.25 billion in protection against unexpected losses from Cigna Corp.'s run-off business. The reinsurance is provided by National Indemnity Co., a subsidiary of Berkshire Hathaway, which carries an A++ rating from A.M. Best Co. This deal is part of
Insurance industry
Markel Insurance Group has been assigned a Best's Group Rating of "A" (Excellent) by A.M. Best Co., a prestigious insurance rating and information source. This rating reflects the group's strong operating performance, solid capitalization, and good liquidity. The group's acquisition of
Insurance industry
Summit Holding Southeast, a Florida-based workers' compensation provider, has announced that its subsidiary, Bridgefield Casualty Insurance Company, has received an "A+" (Superior) rating from A.M. Best Company, a renowned insurance rating and information source. This exceptional rating reflects the company's superior financial strength, operating
