Greg Gallion, current vice president of American Title Co. in Bakersfield, Calif. will become chief executive of the nonprofit blood bank Houchin Blood Services where he has served as a board member for four years. Gallion, 50, is taking over …
Rain and Hail Insurance Service, a West Des Moines, Iowa-based insurance company, has reached an agreement to pay $10 million to the federal government to settle claims that the company misrepresented the condition of damaged California raisin crops. Rain and …
Computer Sciences Corp. has acquired insurance software manufacturer Mynd Corp. for $584 million. Earlier this year, Mynd laid off roughly 400 workers after several years of financial difficulties. The company was established in Blythewood, S.C., in 1974 as a division …
Des Moines, Iowa-based Principal Life Insurance Co. has settled for $374.2 million a class action lawsuit alleging its agents engaged in sales fraud. The suit alleged that agents for Principal used misleading sales practices including a “vanishing premiums” scheme in …
In hopes that a larger policyholder base and larger economic foundation will facilitate expansion, Lincoln Mutual Holding Co. and WFR Mutual Insurance Holding Co. will merge to form one company called Lincoln Insurance Group Inc. The deal between the Lincoln, …
U.K. broker Jardine Lloyd Thompson Plc. has agreed to a realignment of its participation in French insurance broker Siaci, which will reduce its stake to 31 percent from 37 percent. It will receive a payout of £25 million ($37 million). …
The controversy over whether mobile telephones cause brain damage, particularly tumors, may be about to enter the legal arena. Media reports indicate that Baltimore lawyer, and Orioles owner, Peter Angelos plans to file a series of claims against mobile phone …
France’s AXA and the Spanish financial group Banco Bilbao Vizcaya Argentaria have realigned their cross shareholdings in several joint ventures. AXA will buy out BBVA’s 30 percent stake in Spanish life insurer AXA Aurora for €205 million ($189 million), giving …
New revelations of the parlous financial condition of two Japanese Life Companies, Chiyoda and Kyoei, both of whom have filed for bankruptcy protection, puts into question the previously announced plans of American International Group to acquire Chiyoda, and Prudential to …
Munich Re has released a survey of the natural disasters which occurred in the year 2000, citing over 850 worldwide catastrophes, 100 more than last year, but finds that the economic consequences were less, as many of them happened in …
