Insurance industry
United Wisconsin Services, Inc., a leading managed care company, has made significant changes to its executive management team, naming Roger A. Formisano as executive vice president and Penny J. Siewert as vice president of Regional Services. Formisano will oversee all operating units of UWZ, except for the American Medical Security
Insurance industry
FHP, Inc., one of the nation's largest health maintenance organizations, has been selected by Nippon Life Insurance Company to provide managed health care benefits to Japanese companies with operations in the United States. This partnership represents a significant business opportunity for FHP, as it will be the exclusive
Insurance industry
Pioneer Financial Services, Inc., a national health and life insurer, has successfully completed its bond conversion offer for up to $54 million of its 8% Convertible Subordinated Debentures due 2000. The offer, which closed on August 4, 1995, attracted approximately $46,916,000 in bondholders, with over $2,424,000
Insurance industry
The Mutual Life Insurance Company of New York (MONY) has completed the transfer of its real estate asset management department to its wholly owned real estate services company, ARES Holdings, Inc. This move unites MONY's real estate asset management, debt management, and property management functions under one corporate
Insurance industry
Benton Oil and Gas Co., an independent oil and gas exploration and production company, has issued $20 million in 13% senior unsecured notes to John Hancock Mutual Life Insurance Co. The notes bear interest at a rate of 13% and are due on June 30, 2007. This is the second
Insurance industry
Horizon Outlet Centers, Inc., a leading owner, operator, and developer of factory outlet centers, has received two loan commitments totaling $46 million from John Hancock Mutual Life Insurance Company. The funding will be used to pay down the company's line of credit and provide working capital, with the
Insurance industry
ARM Financial Group, Inc. announced the completion of the acquisition of substantially all the assets of SBM Company, including its principal subsidiary, State Bond and Mortgage Life Insurance Company of Minneapolis, Minnesota. The acquisition has increased ARM's policyholder reserves and funds under management to $4.5 billion, with
Insurance industry
The Imperial Life Assurance Company of Canada and Desjardins-Laurentian Financial Corporation have announced that Laurentian Capital Corporation, a subsidiary of Imperial Life, will be acquired by American Annuity Group, Inc. for approximately $105.6 million in cash. The acquisition will also involve the repayment of approximately $45 million of Laurentian
Insurance industry
Laurentian Capital Corp, a Philadelphia-based company, has been acquired by American Annuity Group Inc. for approximately $105.6 million in cash. The acquisition will result in American Annuity Group repaying around $45 million of Laurentian Capital's long-term debt. The deal is subject to regulatory approvals and is expected
Commercial banks
Den norske Bank, Norway's largest bank, has made an offer to acquire Vital Forsikring AS, Norway's second-largest life insurance company, for NOK 2.96 billion. The bank's Board of Directors has decided to offer Vital's shareholders NOK 110 per share in cash,
Insurance industry
Shelter Components Corporation, a nationwide distributor of components for manufactured housing and recreational vehicles, has announced the completion of debt financing agreements with its primary lenders. The agreements will permit the Company to expand its operations and meet the increased demands of its markets. The Company has secured a three-year
Insurance industry
Merrill Lynch Life Insurance Co., a Plainsboro, N.J. based company, has had its "A" (Excellent) Best's Rating reaffirmed by A.M. Best Company. This rating reflects the company's conservative capitalization, high-quality investment portfolio, and efficient operations. Merrill Lynch & Co.'s strong
