Insurance industry
Alfa Corporation, a leading insurance and financial services company, has released its first quarter 1995 results, showing significant improvement across key metrics. The company's operating income nearly doubled to $9.2 million, while net income, including investment gains, reached $9.4 million. Premiums for the quarter surged 31.
Insurance industry
Western National Life Insurance Company has announced a significant partnership with First of America Bank Corporation to develop a proprietary fixed annuity product. This move is part of Western National's efforts to establish strong, long-term relationships with top banks in the country. The fixed annuity, which will be
Insurance industry
The Admar Group Inc. and Principal Mutual Life Insurance Co. have joined forces to market Admar's HMO alternative product, Exclusive Health, in Southern California. This partnership aims to provide customized managed care programs tailored to individual consumer needs, with the goal of reducing overall healthcare costs. The Principal
Insurance industry
The California Association of REALTORS (C.A.R.) has expressed strong opposition to a new condominium earthquake insurance requirement planned by the Federal Home Loan Mortgage Corp. (Freddie Mac), which they claim unfairly singles out California and discriminates against thousands of condominium owners and first-time homebuyers. C.A.R. President
Insurance industry
Providian Corporation, a leading provider of consumer financial services, has announced its selection of J. Walter Thompson as its advertising agency for a brand-building program aimed at increasing consumer awareness for its insurance, credit, and annuity businesses. This move is a strategic step for the company, which has been focusing
Insurance industry
Shelter Components Corporation, a nationwide distributor of components for manufactured housing and recreational vehicles, has announced the completion of debt financing agreements with its primary lenders. The agreements will permit the Company to expand its operations and meet the increased demands of its markets. The Company has secured a three-year
Insurance industry
Merrill Lynch Life Insurance Co., a Plainsboro, N.J. based company, has had its "A" (Excellent) Best's Rating reaffirmed by A.M. Best Company. This rating reflects the company's conservative capitalization, high-quality investment portfolio, and efficient operations. Merrill Lynch & Co.'s strong
Insurance industry
In a move aimed at strengthening its position in the Portuguese banking sector, Banco Comercial Portugues (BCP) has successfully completed a joint tender offer with Seguros Imperio for Banco Portugues do Atlantico (BPA). The acquisition, which was announced on March 24, 1995, has resulted in BCP acquiring 50.0001% of
Insurance industry
Penn Treaty American Corporation, a leading provider of individual fixed, defined benefit, accident and health insurance products, has announced its operating results for the fourth quarter and full year 1994. The company reported net income of $1,726,577 for the quarter, a 10.4% increase from the same period
Insurance industry
Massachusetts Mutual Life Insurance Company and David L. Babson & Company, a leading investment counsel firm, have been engaged in merger discussions. The negotiations contemplate the acquisition of Babson by MassMutual and the combination of Babson's operations with MassMutual's investment management subsidiary, Concert Capital Management, Inc.
Insurance industry
Michigan's insurance regulator who presided over the demise of Confederation Life Insurance Co.'s U.S. operations will be paid upwards of $250 an hour to help oversee the troubled firm's remains in his new private-sector role as a special deputy rehabilitator. The controversial regulator,
Insurance industry
Royal Insurance, a leading provider of insurance services, is taking a major step in the fight against insurance fraud by spinning off its special investigations unit into a separate company. Investigative Resources Global, Inc. (IRG) will offer anti-fraud services to the rest of the industry, targeting smaller insurance companies that
