Insurance industry
Visionary companies and organizations dominated the Florida business scene this week, with several notable deals and announcements. Tropical Sportswear International Corp.'s acquisition of Farah Inc. is almost complete, with over 95% of shares tendered to Foxfire Acquisition Corp. Meanwhile, Vision Twenty-One executives outlined plans for growth through strategic
Insurance industry
A potential £1 billion bidding war is unfolding for the West Midlands' biggest building society, Birmingham Midshires, with three suitors vying for its control. The Halifax, Bank of Ireland, and Norwich Union are all in the running, with the latter two named as potential new entrants to the UK
Insurance industry
Tesco, the British supermarket group, has partnered with Scottish Widows, a leading life assurer, to launch a new joint venture, Tesco Life, which aims to sell pensions to the supermarket's vast customer base. The new company will leverage the Tesco brand to offer pension products to the 10
Insurance industry
ABN Amro, one of the largest banks in Europe, has launched a surprise bid to acquire Generale Bank, sending shockwaves through the financial sector. The Dutch bank's move is a direct challenge to Fortis, a Dutch-Belgian insurer, which had earlier announced a deal to acquire Generale Bank. The
Insurance industry
Aetna Inc., the Hartford, Conn.-based insurer, is redirecting its attention to the healthcare industry after shedding its property and casualty business and attempting to sell its life insurance unit. This strategic decision has led to significant growth for the company, with revenues increasing by over 22% last year and
Insurance industry
Analysts predict a difficult quarter for several major retailers in the UK, with some expected to report significant losses and potential mergers on the horizon. Body Shop, in particular, is expected to reveal its retail resolution plans in the US, following significant losses. Meanwhile, Safeway is feared to have dropped
Insurance industry
Citigroup's proposed $80 billion merger of Citicorp and Travelers Group Inc. has drawn attention to the company's promise of $115 billion in loans and investment for low- and moderate-income people over the next 10 years. However, this pledge has been met with disappointment from community groups,
Insurance industry
The Prudential Insurance Company of America has launched a revamped version of its world-wide web site, featuring improved navigation and enhanced information delivery. According to Stephen Ilnitzki, Vice President of Prudential Corporate Marketing, the redesigned home page aims to provide users with easier access to financial information and facilitate communication
Insurance industry
The Equitable Life Assurance Society, a New York City-based organization, has successfully integrated Periphonics Corporation's Interactive Voice Response (IVR) systems to provide enhanced service to its 1.8 million clients across the country. The implementation, completed in April 1998, replaces existing automated agent and policyholder services, reducing costs
Insurance industry
Champion Products, a division of Sara Lee Corp., has announced that it will be entrusting its advertising business to Long Haymes Carr (LHC) of Winston-Salem, effective July 1. Currently, the account is held by TBWA Chiat/Day New York. This move marks a significant shift in the advertising landscape, with
Insurance industry
Cendant Corporation and American Bankers Insurance Group Inc. have jointly reaffirmed their commitment to completing the merger agreement, valuing at approximately $3.1 billion. The acquisition, valued at $67 per share, is expected to be completed by late summer, pending regulatory approval. Cendant's President and Chief Executive Officer,
Insurance industry
As the world's biggest financial services firm begins to take shape, the $70 billion deal between Citicorp and Travelers Group sparks speculation about the future of the American financial sector. With the frantic pace of bank mergers, driven by the need for companies to be huge to compete,
