CIBC completed the sale of its property and casualty insurance companies–The Personal Insurance Company of Canada and CIBC General Insurance Company Limited–to Desjardins- Laurentian Financial Corporation (DLFC) for gross proceeds of approximately $365 million (US $248 million) and an after-tax …
St. Paul International Insurance Co., Ltd., a subsidiary of The St. Paul Companies Inc., announced today it intends to acquire the Australia Pacific Professional Indemnity Insurance co., Ltd. (APPIIL) in Brisbane, from GIO Holdings Ltd. The transaction is expected to …
Pennsylvania Insurance Commissioner Diane Koken today announced that Pennsylvania has entered into an agreement to exchange a broad scope of information with the Office of Thrift Supervision (OTS), the primary federal regulator of federal and state-chartered savings associations. Savings associations …
MIB Group Inc., a Massachusetts-based provider of database and information management tools to the global risk management industry, is taking advantage of the latest technological developments by accepting electronic signatures as non-traditional method of consent. “As technology advances and rapidly …
First Union Bank, the nation’s sixth-largest bank, has purchased the Tribus Company, a major Northeast regional insurance brokerage and consulting firm. First Union Corp., based in North Carolina, finalized the purchase late last month. Terms of the transaction were not …
Montana State Auditor Mark O’Keefe and SAFECO Regional Vice-President Bill Norman are working together to resolve issues raised by a recent SAFECO mailing in response to the amendments to the Montana Insurance Information and Privacy Protection Act. The mailing from …
On Aug. 29, Former attorney Manny Lee Kreitenberg of Beverly Hills was sentenced to 10 years in state prison on one felony count of conspiracy to commit insurance fraud and 13 counts of insurance fraud. In addition, Kreitenberg was ordered …
American Union Insurance Co. will start on Thursday a $20 per share cash tender offer for the common stock of Indianapolis-based Meridian Insurance Group Inc. Illinois-based American Union acted after negotiations of a possible business combination, ongoing since April, had …
Aon Corp. has entered into an agreement with Reliance Group Holdings to provide claims management services for the majority of Reliance’s outstanding insurance policies. Under the terms of the agreement, Aon and its subsidiaries will not assume any underwriting risk. …
Owners and managers of insurance agencies can now see exactly how their agency’s performance can improve by using the new innovations Marsh-Berry has added to its ALERIS website. The new section, called Executive Outlook, gives subscribers the ability to perform …
