Insurance industry
The Dutch insurance giant Aegon NV has made a bold move to expand its presence in the US life insurance market with the acquisition of Transamerica Corp. for $9.7 billion in cash and stock. The acquisition, announced on February 18, 1999, will make Aegon the third-largest life insurer in
Insurance industry
Kemper Insurance Cos. has made a significant investment in modernizing its paperwork processes through a six-year contract with DocuCorp International worth millions of dollars. The deal includes the licensing of five integrated document automation products: DocuCreate, DocuMaker, DocuSave, PowerOffice, and TransAll. This move is part of Kemper's efforts
Insurance industry
The latest update to the Acotec Remote Access Manager, version 2.0, has been announced, bringing comprehensive policy-based management and unique event management functionality to mission-critical dial-up networks based on Microsoft Windows NT Server. This powerful tool enables both local and remote management of any number of RAS servers, providing
Insurance industry
President Bill Clinton highlighted the need to meet the rising medical costs of the ageing baby boomer generation while focusing on boosting social security. The budget prioritizes the $217bn Medicare scheme, which is expected to run out of cash in 2008. To maintain the programme, Mr. Clinton proposed using one
Insurance industry
Ace Ltd., a leading insurer, has obtained $1.25 billion in protection against unexpected losses from Cigna Corp.'s run-off business. The reinsurance is provided by National Indemnity Co., a subsidiary of Berkshire Hathaway, which carries an A++ rating from A.M. Best Co. This deal is part of
Insurance industry
Markel Insurance Group has been assigned a Best's Group Rating of "A" (Excellent) by A.M. Best Co., a prestigious insurance rating and information source. This rating reflects the group's strong operating performance, solid capitalization, and good liquidity. The group's acquisition of
Insurance industry
Norwich Union, a UK-based insurer, has announced an 8% increase in UK new business sales for 1998, reaching £283m. This strong performance was driven by a surge in group personal pension and investment bond product sales, as well as a 18% rise in regular premium sales to £126m. The company&
Insurance industry
Summit Holding Southeast, a Florida-based workers' compensation provider, has announced that its subsidiary, Bridgefield Casualty Insurance Company, has received an "A+" (Superior) rating from A.M. Best Company, a renowned insurance rating and information source. This exceptional rating reflects the company's superior financial strength, operating
Insurance industry
A.M. Best Co., a leading credit rating agency, has placed the A+ rating of ACE Ltd. under review with developing implications, following its announcement to acquire Cigna Corp.'s domestic and international property insurance businesses for $3.45 billion in cash. This significant transaction solidifies ACE's
Insurance industry
Bermuda-based ACE Limited has agreed to buy Cigna's international and domestic property and casualty insurance businesses for $3.45 billion in cash, significantly strengthening its position in major insurance markets. This deal follows Aetna U.S. Healthcare's announcement to allow external review of coverage decisions, a
Insurance industry
Alfa Insurance Group, a leading insurance company based in Montgomery, Alabama, has announced an extension of its offer to form a strategic alliance with Vesta Insurance Group, a Birmingham, Alabama-based insurance company that has been struggling financially. Despite a setback in negotiations, Alfa remains committed to the deal, which could
Insurance industry
Security concerns surrounding the trial of Thomas Overton, accused of murdering a Tavernier couple and their unborn child in 1991, have led a judge to order special precautions for the defendant. Monroe County deputies have equipped Overton with a shock belt that delivers 50,000 volts for eight seconds if
