Insurance industry
Austin, Texas-based The Continuum Company, Inc. (NYSE: CNU) has signed a significant agreement with Germany's third-largest insurance company, Gerling-Konzern Zentrale Verwaltungs-GmbH, to license its COGEN(TM) property and casualty insurance administration system. The agreement marks a major milestone for Continuum, as it expects to recognize $6 million in
Insurance industry
Laurentian Capital Corp, a Philadelphia-based company, has been acquired by American Annuity Group Inc. for approximately $105.6 million in cash. The acquisition will result in American Annuity Group repaying around $45 million of Laurentian Capital's long-term debt. The deal is subject to regulatory approvals and is expected
Insurance industry
The Imperial Life Assurance Company of Canada and Desjardins-Laurentian Financial Corporation have announced that Laurentian Capital Corporation, a subsidiary of Imperial Life, will be acquired by American Annuity Group, Inc. for approximately $105.6 million in cash. The acquisition will also involve the repayment of approximately $45 million of Laurentian
Insurance industry
Conseco, a leading insurance holding company, and CCP Insurance, a provider of life insurance and annuity products, have announced a definitive merger agreement under which Conseco will acquire all of CCP's remaining shares. As part of the deal, non-Conseco stockholders of CCP will receive $23.25 in cash
Insurance industry
Liberty Mutual, the leading provider of workers' compensation products and services in the United States, has announced a new partnership with Comprehensive Managed Care (CMC), the workers' compensation managed care affiliate of Blue Cross and Blue Shield of Minnesota. Through this partnership, Liberty Mutual will combine its occupational
Insurance industry
Zurich Reinsurance Centre Holdings, Inc. (ZRC) reported a significant improvement in its financial results for the first quarter of 1995, with after-tax net operating income increasing to $3.3 million, or $.13 per share, compared to a loss of $7.6 million, or $.29 per share, in the same period
Insurance industry
Munich American Reinsurance Company and Munich Reinsurance Company have seen their "A++" (Superior) Best's Rating lowered to "A+" (Superior) following weak operating results, high catastrophe exposures, and market challenges in expanding their casualty writings during soft market conditions. The group's combined ratio
Insurance industry
Computer Horizons Corp. (CHC) has been awarded a multi-million dollar contract to solve the year 2000 date-field problem for United States Automobile Association (USAA), the largest provider of all forms of insurance to the United States military and military personnel. The year 2000 poses a significant challenge to the information
Insurance industry
Provident Life and Accident Insurance Company of America, a leading provider of disability and life insurance, announced its first quarter 1995 results, marking a decline in net income compared to the same period in 1994. Despite this, the company's revenue excluding net realized investment gains and losses showed
Insurance industry
Aetna Life & Casualty is exploring a strategic partnership or opportunity for its independently operated investment management subsidiary, Aeltus Investment Management, Inc. This move aligns with Aetna's strategic direction in the asset accumulation business, shifting focus from large corporate and public retirement plans to small to medium-sized tax-exempt
Insurance industry
The Chubb Group of Insurance Companies, along with officials from the electronics industry and law enforcement, has announced the establishment of the Technology Theft Prevention Foundation. The foundation aims to tackle the growing problem of high technology crime, which is expected to cost the electronics industry up to $200 billion
Insurance industry
Community banks are facing numerous hidden exposures beyond the recent frenzy of exotic derivatives and mergers and acquisitions. Traditional directors and officers (D&O) liability risks, check kiting, employee fraud or dishonesty, and safe deposit box losses pose significant threats to community banks. Defense costs for D&O
