Insurance industry
Knight Ridder Inc., the second-largest US newspaper company, has announced a significant expansion of its share buyback program, authorizing the repurchase of up to 6 million additional shares. This move comes on the heels of the company's shares reaching a record high and a 29% increase in net
Insurance industry
Eight major companies, including Equity One, Group 1 Automotive, and APACHE Medical Systems, will broadcast their quarterly earnings conference calls live over the Internet, through Investor Broadcast Network (IBN). The calls, which will take place on October 26 and 27, 1999, will be available to registered users through the IBN&
Insurance industry
Businessman Richard Hayward has won a significant battle against his insurance company, Norwich Union, after his £65,000 Porsche was stolen despite being equipped with a security-coded immobilizer. The judge ruled in Hayward's favor, deeming the policy wording ambiguous, and awarding him £74,648 in damages. This decision
Insurance industry
The bidding war for Capital Re Corp. is intensifying between Ace Ltd. and XL Capital Ltd. as both companies revise their offers to $13 a share. The potential acquisition has been taking shape since May, when Ace initially reached an agreement with Capital Re to purchase the company for $10
Insurance industry
The British life and pensions company, Legal & General (L&G), has posted a significant increase in new business, with its world-wide new life, pensions, and retail investment business reaching a record level of £464m during the nine months to September 30. This represents a 22% rise on the
Insurance industry
Bull & Lifshitz continue their pursuit of a securities class action lawsuit against UNUMProvident Corp., alleging violations of federal securities laws. The lawsuit claims that the company made false and misleading statements in press releases and SEC filings. The case affects shareholders who purchased UNUMProvident or UNUM shares during a
Insurance industry
A securities class action lawsuit was filed against UNUMProvident Corp., Inc. and certain officers and directors on behalf of shareholders who purchased shares during the period from February 4, 1998, to August 2, 1999. The complaint alleges that defendants made false and misleading statements in press releases and SEC filings,
Insurance industry
Wechsler Harwood Halebian & Feffer LLP, along with Bull & Lifshitz, LLP, have continued their class action against UNUMProvident Corp. (NYSE: UNM) on behalf of shareholders who purchased shares during a specific period. The lawsuit alleges that defendants made false and misleading statements in press releases and filings with the
Insurance industry
Three major insurance companies, Allstate Insurance Co., Ohio Casualty Group (OCG), and State Farm Mutual Automobile Insurance Co., have collectively invested over $10 million in advertising packages on the MSN.COM network. These packages, introduced by Microsoft, cater to insurance needs in three categories: life insurance, auto insurance, and homeowners
Insurance industry
Turin and Milan, two of Italy's economic powerhouses, have long been allied against the interventionist appetites of Rome. However, their relationship has soured, and both cities are now vying for dominance in Italian finance. Turin seeks to expand its financial sector and reduce its dependence on the automotive
Insurance industry
National Westminster Bank PLC's interest in acquiring Legal & General Group PLC has sent shockwaves through the British banking and insurance industries, potentially creating a $48 billion financial services group. The deal, worth up to £10.7 billion ($17.19 billion), would mark a significant consolidation in the
Insurance industry
Shares in Norwich Union skyrocketed nearly $900 million as industry sources revealed that the insurer is the next potential takeover target in the financial services sector. NatWest's bid for Legal & General would be the biggest takeover in the UK's financial services industry, with analysts warning
