Insurance industry
Aggressive driving, defined as behavior that endangers others on the road, is a growing concern on American highways. While Road Rage, which involves deliberately attempting to harm others with a vehicle, is often discussed, aggressive driving is a distinct issue. According to the American Automobile Association (AAA), one in four
Insurance industry
The Nasdaq composite index reached its first record since April 22, fueled by expectations that semiconductor sales will rebound, with Intel Corp. leading the charge. The Standard & Poor's 500 index also set a new record, boosted by gains in Travelers Group Inc. and Citicorp, which will soon
Insurance industry
Green Tree Financial Corp., once the nation's largest mobile home lender, has disclosed that it will need to erase another $350 million from its bottom line due to questionable accounting practices. This comes just six months after the company declared it had cleansed its income statements, taking a
Insurance industry
The Scottish National Party (SNP) and insurance giant Scottish Widows held an important meeting to discuss the party's economic ideas for an independent Scotland. This meeting comes a month after Scottish Widows' CEO, Mike Ross, warned that independence would be bad for the company's business.
Insurance industry
Standard & Poor's, a renowned credit rating agency, has reaffirmed the triple-'A' financial strength ratings for the members of the Berkshire Hathaway Insurance Group, following the company's decision to acquire General Reinsurance Corp. (Gen Re) for $22 billion. This significant acquisition creates the
Insurance industry
The banking industry has long sought to create one-stop financial centers, where consumers can access a range of services from a single provider. After almost 20 years of efforts, the proposed merger between Citicorp and Travelers Group appears to be the most promising attempt yet. The $85 billion deal, set
Insurance industry
Life company AMP's float on the Australian stock market brought surprise windfalls to the 171,000 UK shareholders who received approximately £6,500 each. Non-Australian holders would have gained even more, but the recent sharp fall in the local currency limited their gains. The value of the shares
Insurance industry
Visionary companies and organizations dominated the Florida business scene this week, with several notable deals and announcements. Tropical Sportswear International Corp.'s acquisition of Farah Inc. is almost complete, with over 95% of shares tendered to Foxfire Acquisition Corp. Meanwhile, Vision Twenty-One executives outlined plans for growth through strategic
Insurance industry
A potential £1 billion bidding war is unfolding for the West Midlands' biggest building society, Birmingham Midshires, with three suitors vying for its control. The Halifax, Bank of Ireland, and Norwich Union are all in the running, with the latter two named as potential new entrants to the UK
Insurance industry
Tesco, the British supermarket group, has partnered with Scottish Widows, a leading life assurer, to launch a new joint venture, Tesco Life, which aims to sell pensions to the supermarket's vast customer base. The new company will leverage the Tesco brand to offer pension products to the 10
Insurance industry
ABN Amro, one of the largest banks in Europe, has launched a surprise bid to acquire Generale Bank, sending shockwaves through the financial sector. The Dutch bank's move is a direct challenge to Fortis, a Dutch-Belgian insurer, which had earlier announced a deal to acquire Generale Bank. The
Insurance industry
Aetna Inc., the Hartford, Conn.-based insurer, is redirecting its attention to the healthcare industry after shedding its property and casualty business and attempting to sell its life insurance unit. This strategic decision has led to significant growth for the company, with revenues increasing by over 22% last year and
