Insurance industry
Duff & Phelps Credit Rating Co. (DCR) has reaffirmed the 'AA' (Double-A) claims paying ability rating of Business Men's Assurance Company of America (BMA), citing the company's strong capitalization and liquidity, excellent asset quality, improving profitability, and stable market position in its life reinsurance
Insurance industry
Duff & Phelps Credit Rating Co. (DCR) has assigned a consolidated claims paying ability rating of 'a-' (Single-a-Minus) to Fidelity National Financial, Inc. (FNF) based on the evaluation of its title insurance company subsidiaries. This rating follows the acquisition of Alamo Title Insurance Company by FNF in August
Insurance industry
Torchmark Corporation has entered into an agreement with Alfa Mutual Insurance Company to sell 1.8 million shares of Vesta Insurance Group common stock at a price of $7.42 per share. The transaction is subject to regulatory approval and contingent upon Vesta shareholder approval. This sale represents approximately 9.
Insurance industry
The merger between Travelers Group and Citicorp, hailed as the greatest ever, has turned out to be a logistical nightmare for Citigroup. Despite clearing regulatory hurdles eight months ago, the company is struggling with integration issues fueled by culture clashes and competing businesses. The problems came to a head over
Insurance industry
The ENTIA-DM30, a cutting-edge remote access solution, has been announced by Interphase Corporation. This innovative adapter boasts improved performance for access to the Internet and remote LANs for corporate users. The ENTIA-DM30 utilizes Rockwell Central Site Modem technology, providing robust support for data-intensive applications, including V.90 modem, fax, and
Insurance industry
Duff & Phelps Credit Rating Co. (DCR) has reaffirmed its 'D-1' rating on the asset-backed commercial paper notes issued by Special Purpose Accounts Receivable Cooperative Corporation (SPARC), a bankruptcy-remote, special-purpose corporation established under Delaware law. This reaffirmation is in response to SPARC's significant $4.6 billion
Insurance industry
ICO Global Communications, a leading global mobile communications company, has insured the launch and in-orbit operations of its 12-satellite constellation at a premium of $77 million. The insurance package, brokered by J & H Marsh & McLennan, provides over $200 million in coverage for the manufacture and launch of replacement
Insurance industry
Markel Corporation has announced an all-cash tender offer for all common shares of Gryphon Holdings at a price of $18.00 per share. The offer commences today and is scheduled to expire on December 4, 1998. Markel Vice Chairman Steven Markel believes this offer is in the best interests of
Insurance industry
Interpolis, a leading insurance company in the Netherlands, has chosen BEA TUXEDO as the middleware solution for its Melinda project, a strategic initiative aimed at reducing the time needed to deliver new insurance and financial products from seven months to two days. The project, which utilizes the DYNASTY development tools,
Insurance industry
Sapient Corporation, an innovative provider of integrated management consulting and information technology solutions, has helped one of its clients, Answer Financial Inc., enable an entirely new distribution channel for evaluating and buying insurance over the Internet. The project, known as the Insurance Answer Center (IAC), is a robust Internet application
Insurance industry
Cendant Corp. and American Bankers Insurance Group Inc. announced the mutual decision to terminate their merger agreement, which would have seen Cendant acquire American Bankers. In conjunction with the termination, Cendant and American Bankers released each other from any claims related to the proposed acquisition and Cendant made a $400
Insurance industry
The fifth day in decline for local listed companies has resulted in more than $18.5 billion being shaved off their value since September 29. The downturn has been particularly severe for blue chip companies, with News Corp and AMP leading the slide. Analysts point to various factors contributing to
