Insurance industry
Analysts predict a difficult quarter for several major retailers in the UK, with some expected to report significant losses and potential mergers on the horizon. Body Shop, in particular, is expected to reveal its retail resolution plans in the US, following significant losses. Meanwhile, Safeway is feared to have dropped
Insurance industry
Citigroup's proposed $80 billion merger of Citicorp and Travelers Group Inc. has drawn attention to the company's promise of $115 billion in loans and investment for low- and moderate-income people over the next 10 years. However, this pledge has been met with disappointment from community groups,
Insurance industry
The Prudential Insurance Company of America has launched a revamped version of its world-wide web site, featuring improved navigation and enhanced information delivery. According to Stephen Ilnitzki, Vice President of Prudential Corporate Marketing, the redesigned home page aims to provide users with easier access to financial information and facilitate communication
Insurance industry
The Equitable Life Assurance Society, a New York City-based organization, has successfully integrated Periphonics Corporation's Interactive Voice Response (IVR) systems to provide enhanced service to its 1.8 million clients across the country. The implementation, completed in April 1998, replaces existing automated agent and policyholder services, reducing costs
Insurance industry
Champion Products, a division of Sara Lee Corp., has announced that it will be entrusting its advertising business to Long Haymes Carr (LHC) of Winston-Salem, effective July 1. Currently, the account is held by TBWA Chiat/Day New York. This move marks a significant shift in the advertising landscape, with
Insurance industry
Cendant Corporation and American Bankers Insurance Group Inc. have jointly reaffirmed their commitment to completing the merger agreement, valuing at approximately $3.1 billion. The acquisition, valued at $67 per share, is expected to be completed by late summer, pending regulatory approval. Cendant's President and Chief Executive Officer,
Insurance industry
As the world's biggest financial services firm begins to take shape, the $70 billion deal between Citicorp and Travelers Group sparks speculation about the future of the American financial sector. With the frantic pace of bank mergers, driven by the need for companies to be huge to compete,
Insurance industry
Industry insiders are questioning the viability of dual leadership in the newly formed Citigroup, citing concerns over power struggles and conflicts between co-chairmen and co-chief executives Sanford Weill and John Reed. Despite the two men's attempts to allay concerns, analysts and bankers are skeptical about the success of
Insurance industry
The largest merger announcement in history, with Citicorp and the Travelers Group combining to form Citigroup, has transformed the American financial landscape. The new company, Citigroup, will have a staggering $697.15 billion in assets and 100 million customers in 100 countries, from Austria to Zambia. This "universal bank&
Insurance industry
Benny Higgins, a former high-flier who left Standard Life in June last year under mysterious circumstances, has been appointed director of retail banking for the Royal Bank of Scotland's UK banking operation. Higgins' appointment is part of a major reshuffle aimed at boosting the bank's
Insurance industry
InterContinental Life Corporation reported a net income of $20,540,000 for the year ended December 31, 1997, on revenues of $127,683,000. This represents a decrease from the 1996 net income of $26,938,000 on revenues of $138,244,000. The sale of Bridgepoint Square Offices contributed
Insurance industry
Aetna Inc.'s acquisition of New York Life Insurance Co.'s health-plan business, NYLCare, for $1.05 billion marks a major move in the managed care industry, despite concerns from analysts that it may be a risky investment. The deal, expected to complete by 2000, will add 2.
