Insurance industry
Lloyds TSB chief executive PETER Ellwood expressed confidence that the bank's $7 billion offer for Scottish Widows would not be topped by any rival bidder. Ellwood highlighted the benefits of the deal, which includes giving Scottish Widows' products access to 15 million customers, roughly one in four
Insurance industry
Lloyds TSB's decision to replace its in-house insurance operation, Lloyds TSB Life, with Scottish Widows has raised concerns about the future of bancassurance and the potential for customers to end up with products carrying different fees and commissions. The move has sparked scrutiny of the exclusive sale of
Insurance industry
Community activists are pushing back against Blue Cross Blue Shield of Colorado's planned sale to Anthem Inc., alleging a lack of transparency and self-dealing in the deal. The sale, announced in March, has been criticized by some for being shrouded in secrecy and potentially benefiting Blue Cross at
Insurance industry
Following the announcement of Capital Re's merger with ACE Limited, Fitch IBCA affirms Capital Reinsurance Co.'s 'AAA' claims-paying ability rating. The merger allows Capital Re to benefit from ACE's greater access to capital and liquidity, as well as increased dividend flexibility. Additionally,
Insurance industry
As the pace of mergers and acquisitions in Northeast Ohio accelerates, public company executives are feeling increasing unease about their stock prices and the likelihood of being acquired. According to Ellen Batkie, director of investor relations at Charter One Financial Inc., no one can afford to relax in this market.
Insurance industry
Steve Sykes, manager of Alveston Football Club, has announced his resignation following the club's failure to apply for promotion to the Interlink Express Alliance. Sykes, who has led the Warwickshire club to a Premier Division title in his third season, claimed that the club had assured him an
Insurance industry
Allianz Life Insurance Company of North America and Life USA Holding, Inc. have agreed to a cash acquisition deal, with Life USA shareholders set to receive $20.75 per share. The transaction will see Robert W. MacDonald, Chairman and CEO of Life USA, become CEO of Allianz Life, while Lowell
Insurance industry
Norwich Union is set to shake up the UK mortgage market with the launch of its base rate tracker loan, offering rates as low as 5.1% for most borrowers. The move is seen as a direct challenge to Standard Life Bank's popular 6% mortgage, which has garnered
Insurance industry
RenaissanceRe Holdings Ltd., a global provider of reinsurance and insurance, reported a 15% drop in first-quarter 1999 net income, citing the higher loss ratio connected with subsidiary Nobel Insurance Co. The company's net income dropped to $30 million or $1.41 a share, from $35.7 million or
Insurance industry
Aetna Inc. has introduced a cost-effective health insurance plan, Affordable HealthChoices, targeting the 25 million uninsured working Americans. The policy, priced as low as $46 per person or $156 per family per month, aims to provide minimal coverage to individuals who cannot afford traditional health insurance. Approved in Texas, Connecticut,
Insurance industry
Electronic Data Systems, a leading technology consulting firm based in Texas, has confirmed the elimination of 5,200 jobs, representing approximately 4% of its workforce. This drastic measure comes as the company reports a first-quarter net loss of $20.6 million, or 4 cents per share. The financial results include
Insurance industry
Kirk Rothrock, a veteran of the health care industry with extensive experience in managed care and financial services, has been appointed president of Intracorp, a national leader in health care and disability-management services. As part of CIGNA Health Services, Intracorp provides a range of services to over 20 million people
