Banknorth Group will soon provide insurance products and services in western Massachusetts. The bank’s insurance subsidiary has reached a definitive agreement to acquire the Palmer Goodell Insurance Agency of Springfield, Mass. The agency will become part of Morse, Payson & …
First, the company’s chief executive stepped down amid pressure from stockholders. Then, the company’s surety group withdrew its proposal for an initial public offering. Then sprung up reports of the company selling to Leucadia National Corp. for a meager $293 …
Progressive Corp. is estimating its second-quarter profits will fall below Wall Street consensus estimates because of poor underwriting results worsened by catastrophe losses. The auto insurer’s earnings have fallen 50 cents per share through the first quarter, well below analyst …
An electronic signature bill approved by Congress last week contains important liability safeguards for independent agents according to the Independent Insurance Agents of America. S. 761—the Electronic Signatures in Global and National Commerce Act or ESIGN Act—was approved by the …
Ohio has signed into law a measure to ensure efficiency for e-commerce business known as the Uniform Electronic Transaction Act. The legislation, patterned after the model created by the National Conference of Commissioners on Uniform State Laws, establishes rules and …
South Africa’s largest life insurance and pension fund manager, Old Mutual Plc, which despite the name is a stock company, as it demutualized last year, has agreed to purchase U.S. fund manager United Asset Management for an overall price of …
CGNU and the U.K. government’s CDC Capital Partners, its emerging market investment agency (formerly the Commonwealth Development Corporation), announced the creation of an investment fund of up to $100 million in the Chinese market. “The 50-50 joint venture, called CGU-CDC …
Once again discussions between Dutch bancasssurer ING and the U.S. largest health care insurer, Aetna, seem to have reached an impasse with Aetna’s announcement that it was talking to other interested parties as well as ING. The exclusive negotiations, aimed …
Despite numerous rumors and reports, company spokesmen for both Germany’s Commerzbank and Dresdner Bank denied they were to hold discussions over the weekend aimed at a possible merger. Nevertheless, the banks confirmed today that they had held talks, and would …
Imperial County, Calif., residents felt more than three dozen earthquakes on June 14, with magnitudes ranging up to 4.3. The first quake hit about seven miles northeast of El Centro with a preliminary magnitude of 4.2. It was followed by …
