Insurance industry
Standard Life, a leading fund manager, has issued a strong rebuke to food and drink giant Diageo's lucrative bonus scheme for directors, citing concerns over its "artificial" nature and potential impact on pensioners. The decision to vote against the scheme is rooted in Standard Life'
Insurance industry
Standard Life has put on hold new investments in UK equities, citing fears of a possible 5-10% price decline. Despite considering the domestic market strong, the Edinburgh-based financial giant is taking a cautious approach due to concerns over corporate earnings and potential devaluations in the US. The company's
Insurance industry
Warren, N.J.-based Chubb Corp., a wholly owned subsidiary of Jefferson-Pilot Corp., experienced a significant decline in second-quarter earnings, falling 12% to $154.4 million. This marked a bigger-than-expected drop, with analysts estimating 98 cents per diluted share. The company's recent results were impacted by storm damage,
Insurance industry
CNA Financial Corp., led by Chairman and CEO Dennis Chookaszian, has initiated a comprehensive review of its business units over the next year-and-a-half to enhance competitiveness. The Chicago-based insurer will lay off 1,100 workers, approximately 20% of its workforce, in its commercial insurance unit, and consolidate policy transactions and
Life insurance
Standard & Poor's recently assigned a double-'B' pi insurer financial strength rating to Health & Life Insurance Co. of America, a company licensed in 28 states and a major player in the individual accident and health insurance market. The company's strong capitalization, satisfactory
Insurance industry
Benny Higgins, a former high-flier who left Standard Life in June last year under mysterious circumstances, has been appointed director of retail banking for the Royal Bank of Scotland's UK banking operation. Higgins' appointment is part of a major reshuffle aimed at boosting the bank's
Insurance industry
InterContinental Life Corporation reported a net income of $20,540,000 for the year ended December 31, 1997, on revenues of $127,683,000. This represents a decrease from the 1996 net income of $26,938,000 on revenues of $138,244,000. The sale of Bridgepoint Square Offices contributed
Insurance industry
Aetna Inc.'s acquisition of New York Life Insurance Co.'s health-plan business, NYLCare, for $1.05 billion marks a major move in the managed care industry, despite concerns from analysts that it may be a risky investment. The deal, expected to complete by 2000, will add 2.
Insurance industry
Aetna Inc., the nation's second-largest health insurer, is set to announce a significant expansion of its presence in the health care market with the acquisition of New York Life's health insurance business, NYLCare Health Plans, for $1.05 billion in cash. The deal, which is expected
Insurance industry
The proposed merger of Schaumburg-based Pioneer Financial Services and Carmel, Ind.-based Conseco Inc. has sparked both excitement and concern in the insurance industry. At the heart of the matter are two charismatic executives, Peter Nauert and Stephen Hilbert, who share a passion for success and a penchant for the
Insurance industry
Providian Corporation has announced a merger with AEGON USA, a wholly owned subsidiary of AEGON N.V., valued at $3.5 billion. The deal involves a tax-free exchange of stock and the assumption of $780 million in debt and $100 million in Monthly Income Preferred Stock (MIPS) by AEGON USA.
Insurance industry
Aetna Life & Casualty, a leading insurance provider, has expanded its online presence by introducing a dedicated commercial small-business insurance site on its World Wide Web site. This new platform aims to cater to the specific needs of small-business owners, offering a comprehensive resource for commercial property and casualty insurance.
