Equity Insurance Partnerships (EIP) has extended its affinity partnership with Poppy Insure, the trading subsidiary of The Royal British Legion. Under the renewed partnership, EIP will administer the Legion's branded home and motor ...
Tags: Equity Insurance Partnerships, Poppy Insure, motor insurance
Protective Life Corporation (PLC) has registered 13% downfall in net income available to PLC's common shareowners to $76.2 m, or $0.91 per average diluted share for the second quarter of 2012, against $87.6m, or $1.00, during the same ...
Tags: Protective Life Corporation, net income, operating income, insurance
UK based insurance and financial services firm Prudential has inked an agreement with Thailand based Thanachart Bank to acquire its Life Assurance Company for £368m in cash. The transaction, which is expected to complete during the ...
Tags: insurance and financial services, Prudential, Thanachart Bank
Ambac Financial has posted a second quarter 2012 net loss of $811.1m, or $2.68 per share, against $102.4m, or a net loss of $0.34 per share during the same period earlier year. According to the company, second quarter 2012 results were ...
Tags: Ambac Financial, loss deepens, portfolio repositioning
Insurance broker Willis Group Holdings has hired Nils Arne Fagerli as CEO of Willis Norway effective immediately. Based in Oslo, Fagerli will report to Adam Garrard, Willis International CEO of Europe. Garrard said, "With a wealth of ...
Tags: Willis Group Holdings, insurance broker, Nils Arne Fagerli
The Hartford has promoted Robert Bateman to senior vice president and controller of the company, succeeding Beth Bombara who was recently promoted as president of Life Runoff. Bateman will manage the accounting operations of the company ...
Tags: Hartford, Robert Bateman, analytic skills, insurance
Fairfax Financial Holdings’ RiverStone runoff subsidiary has signed an agreement with Brit Group to buy all the outstanding shares of Brit Insurance Limited (BIL) of London, England for an undisclosed sum. According to the insurer, ...
Tags: Fairfax, subsidiary, BIL, London
Industrial Alliance Insurance and Financial Services has acquired its subsidiary, Industrial Alliance Pacific Insurance and Financial Services, effective 30 June 2012. As per the merger agreement inked, the former Industrial Alliance ...
Tags: Industrial Alliance, subsidiary, strong financial position
Aspen Insurance Holdings has appointed John Worth as the group's chief financial officer, effective from 1 November 2012 and subject to relevant regulatory approval. Succeeding Julian Cusack, interim Aspen Group chief financial officer, ...
Tags: Aspen Insurance Holdings, John Worth, chief financial officer
German snack company Intersnack is finalizing an agreement to acquire UK-based United Biscuits' snacks business, KP Snacks, for more than £400m. Intersnack and KP Snacks are likely to announce the agreement this week, reported ...
Tags: snack, acquire, Intersnack, KP Snacks, food, potato chips
PPG Industries has appointed Eric K. Thiele, PPG assistant treasurer and credit director, as treasurer and a company officer. He will report to David B. Navikas, PPG senior vice president, finance and chief financial officer, and he will ...
Tags: PPG, Thiele treasurer, Giga, retire
Volkswagen and its Chinese joint-venture partner SAIC Motor have signed a contract to build a new EUR170m vehicle manufacturing plant in Urumqi, Western China. According to the company the new plant will be capable of producing 50,000 ...
Tags: Volkswagen, SAIC Motor, EUR170m vehicle, vehicles, gearboxes
Chinese food and beverage firm Wahaha is in a leading position to acquire United Biscuits' snacks business, KP Snacks, for £520m. This move comes after the owners of United Biscuits, US private equity firm Blackstone and the French ...
Tags: food and beverage firm, leading position, snacks business
Citigroup is cutting 11,000 jobs,many in IT,as part of a restructuring announced Wednesday. The job cuts are part of a plan to save about$900 million through a variety of actions,including"increasing standardization and the use of ...
Tags: Citigroup, job cuts, IT, automated processes
American International Group's (AIG) life and retirement business has purchased Woodbury Financial Services from The Hartford, for an undisclosed sum. The acquisition follows a definitive agreement that was signed on 31 July 2012. On ...
Tags: AIG, life and retirement business, purchased, Advisor Group