Insurance industry
InsWeb Corporation, the leading insurance marketplace on the Internet, has announced a partnership with American International Group, Inc. (AIG) to offer homeowners insurance in 30 states. This move follows AIG's existing presence on the platform for personal automobile insurance in 38 states. The partnership aims to provide consumers
Insurance industry
A.M. Best Co. recently affirmed the "A-" (Excellent) ratings of Frontier Insurance Co. and its subsidiary, Frontier Pacific Insurance Co., despite facing a significant pre-tax charge of $150 million in the fourth quarter of 1998. The affirmation is based on the company's ability to contain
Insurance industry
Travelers Property Casualty Pool, a 20-member group led by the Travelers Indemnity Co., has received a rating upgrade from A to A+ by A.M. Best Co. This upgrade comes as a result of Travelers' outstanding financial performance, conservative balance sheet, and excellent capitalization. The company's strong
Insurance industry
CIGNA Property & Casualty's Secure Systems Insurance program, introduced in October 1998, provides insurance protection against loss of corporate information assets and systems technology. To qualify for this insurance, companies must meet certain underwriting criteria and achieve an "insurable state." As part of this effort, Vanstar
Insurance industry
Aetna Inc., the nation's largest health insurer, has agreed to buy Prudential HealthCare for $1 billion, significantly expanding its membership in key states and solidifying its position as a dominant player in the managed care industry. The acquisition adds approximately 6.6 million members to Aetna U.S.
Insurance industry
Aetna Inc. has become the largest health maintenance organization in the country with its acquisition of Prudential HealthCare, a move that may have significant implications for the healthcare market. Despite concerns from industry experts, the deal appears to have little impact on the Chicago area, where Prudential is a partner
Insurance industry
The Philadelphia Stock Exchange (PHLX) is enhancing its services by adding new options trading in four major companies: Aegon NV, Software AG Systems, Inc., Entrust Technologies, Inc., and Com21, Inc. Starting on November 23, 1998, and November 25, 1998, respectively, the PHLX will offer put and call options on these
Insurance industry
Duff & Phelps Credit Rating Co. (DCR) has reaffirmed the 'AA' (Double-A) claims paying ability rating of Business Men's Assurance Company of America (BMA), citing the company's strong capitalization and liquidity, excellent asset quality, improving profitability, and stable market position in its life reinsurance
Insurance industry
Duff & Phelps Credit Rating Co. (DCR) has assigned a consolidated claims paying ability rating of 'a-' (Single-a-Minus) to Fidelity National Financial, Inc. (FNF) based on the evaluation of its title insurance company subsidiaries. This rating follows the acquisition of Alamo Title Insurance Company by FNF in August
Insurance industry
Torchmark Corporation has entered into an agreement with Alfa Mutual Insurance Company to sell 1.8 million shares of Vesta Insurance Group common stock at a price of $7.42 per share. The transaction is subject to regulatory approval and contingent upon Vesta shareholder approval. This sale represents approximately 9.
Insurance industry
The merger between Travelers Group and Citicorp, hailed as the greatest ever, has turned out to be a logistical nightmare for Citigroup. Despite clearing regulatory hurdles eight months ago, the company is struggling with integration issues fueled by culture clashes and competing businesses. The problems came to a head over
Insurance industry
The ENTIA-DM30, a cutting-edge remote access solution, has been announced by Interphase Corporation. This innovative adapter boasts improved performance for access to the Internet and remote LANs for corporate users. The ENTIA-DM30 utilizes Rockwell Central Site Modem technology, providing robust support for data-intensive applications, including V.90 modem, fax, and
