Insurance industry
A tumultuous period for the life insurance industry, marked by the failure of Confederation Life Insurance Co. and increasing competition from banks, has sent share prices plummeting. However, a few analysts believe that the downturn has created opportunities to buy quality stocks at a discount. Mutual fund manager Irwin Michael
Insurance industry
AFLAC Incorporated, a leading international holding company, has announced the authorization of the repurchase of up to 4.6 million shares of its common stock. This move comes after a successful year for the company, during which it concluded its best year in history. The company's financial condition
Insurance industry
ITT Hartford Insurance Group, a unit of ITT Corp., has ended negotiations to merge with Hooge Huys Verzekeringen N.V., a Dutch insurance company. Although the two companies had announced their merger plans in September 1994, they were unable to reach a common ground. The decision to abandon the merger
Insurance industry
AFLAC Incorporated, a leading underwriter of supplemental insurance, today announced record fourth quarter results. The company's operating earnings of $77.8 million, excluding realized investment gains/losses, were the best in its history. This feat was achieved despite challenges posed by Japan's sluggish economy and low
Personal finance
The UK life insurance industry is bracing itself for significant changes in consumer response to new disclosure rules, which require full transparency on commission payments to salesmen and advisers. Independent actuary AKG predicts a 30% drop in commissions this year as buyers become more informed. The "key features"
Personal finance
People with terminal illnesses, like Aids patient Mr. S, are being offered attractive cash payments for their life insurance policies by a growing number of companies. However, these companies often have a history of delays, excuses, and in some cases, failing to provide the promised payments. This phenomenon is part
Insurance industry
The Allstate Insurance Company has made the difficult decision to close its San Jose office, effective immediately, and transfer operations to its Sacramento office. This consolidation will result in the elimination of approximately 50 positions, a move that the company believes is necessary to adapt to the changing regulatory landscape
Insurance industry
Winston-Salem, N.C.-based Integon Corporation, a leading provider of specialty automobile insurance products, announced on January 9, 1995, that its Board of Directors has approved modifications to the $10 million 10% Subordinated Note due 2002 issued by Integon Life Corporation. The modifications aim to facilitate the proposed acquisition of
Insurance industry
Conseco, Inc. announced the sale of its 40 percent equity interest in Western National Corp. to American General Corp. for $274 million in cash, or $11.00 per share. This transaction is subject to regulatory approvals and is expected to close by year-end, with Conseco expecting to recognize a modest
Insurance industry
Western National Corporation has announced that agreements have been entered into providing for the sale of Conseco's 40% interest in Western National to American General Corporation. This transaction, valued at $274 million, is subject to regulatory approvals and is expected to be consummated by year end. The sale
