Markel Corp. will offer about 16 percent of its common stock to pay off outstanding debts. The company plans to sell 1.2 million shares, including 321,000 shares being sold under the company’s previously filed shelf registration statement. Goldman Sachs is …
The House Financial Services Committee subcommittee has been revised for the newly minted panel, which will have broad sway across the financial sector. The committee was formed earlier this month by adding the securities and insurance jurisdictions once held by …
Following a “strategic review” commenced last November, ING Group announced that it expected to cut around 1100 jobs at its investment banking units, principally at Barings Bank in London. The move is in line with the Dutch financial services and …
As foreign teams joined local rescue workers in a desperate race to comb the wreckage for any survivors of India’s worst earthquake in 50 years, estimates of the the number of people killed exceeded 20,000. The devastation is spread over …
Australian insurer AMP announced that it was withdrawing from talks with the U.K.’s Equitable Life, following the failure to reach an agreement on a figure for Equitable’s sales force, asset management business and administrative operations. AMP was the only remaining …
Amwest Insurance Group Inc. has ended discussions with Bonds.com Inc. with respect to a potential transaction. Amwest’s board of directors and management team continues to work closely with its outside advisers in formulating a reorganization plan and examining various strategic …
Crawford & Company has announced financial results for the fourth quarter and year ended December 31, 2000, showing revenues declined 11 percent, from $191.2 million reported in 1999 to $170.2 million in 2000. Operating income in the quarter totaled $10.2 …
The Hartford Financial Services Group has announced that it will acquire the individual life insurance, annuity and mutual fund businesses of Dutch-Belgian bank-insurance giant Fortis Inc. for $1.12 billion in cash. Operating as Fortis Financial Group, the acquisition will add …
Insurance broker E.W. Blanch Holdings Inc. has named Chris Walker as its new president and chief operating officer, succeeding Ted Blanch. Blanch has been named the Dallas-based company’s chairman emeritus.
Four insurance trade associations have said they cannot supply data to federal safety regulators that will indicate whether certain passenger vehicles pose a potential danger to consumers. In a joint statement filed last week with the National Highway Traffic Safety …
