New York investment bank Blackstone Group and British insurance broker Jardine Lloyd Thompson are taking on a joint venture to form a U.S.-based risk consultancy called Capital Risk Group. JLT will own 80 percent of the new venture. The remainder …
In a move made possible by Aegon’s July 1999 acquisition of Transamerica, the worksite marketing divisions of eight companies have joined forces to form a new organization, Transamerica Worksite Marketing. The new organization is expecting $50 million in estimated new …
Camels have long been valued in the Middle East for their use as transportation and as beasts of burden. Now, the Iranian government is extending insurance coverage for dromedaries in the southwest province of Khuzestan, insuring them against earthquakes, thunder, …
British-based insurance software specialist TiG and three other software companies have aligned with IBM. The deals are expected to pull in new sources of revenue for all IBM products totaling nearly $1 billion. TiG, a unit of Canadian company Fairfax …
Aiming directly at the North American Market, Lloyd’s announced today that it is launching a new product in association with Lloyd’s broker Prentis Donegan & Partners to provide coverage from damages sustained by companies following a hostile takeover bid. “By …
The London Stock Exchange and Frankfurt’s Deutsche Boerse announced today that they had finally agreed on merger terms after 18 months of negotiations. The move will create the world’s second largest stock market with €6.5 trillion ($5.95 trillion) in value, …
Winterhur Insurance Group, a subsidiary of credit Swiss/First Boston, has agreed to pay £332 million ($515 million) for the British insurance and pension business of Colonial, an Australian insurer, which has been seeking a buyer for its U.K. investment. Winterhur …
France’s AXA announced that it plans to increase its corporate capital by € 3.7 billion ($3.3 billion) in order to finance part of its purchase of the 43.7 percent minority interest in Sun Life & Provincial Holdings (SLPH), announced yesterday. …
Lloyd’s insurer Limit Plc has received an unsolicited bid from Australia’s QBE Insurance Group. The offer valued Limit, which had earlier announced its intention to merge with Wellington Underwriting, at £320 million ($ 496 million), and called into question the …
As many as 4,000 West Virginia residents who unknowingly paid for insurance on their jewelry purchases will be repaid by the store that duped them. The company, Friedman’s Jewelers, was accused by state Attorney General Darrell McGraw Jr. of misleading …
