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Truly a penny stock, Reliance is delisted

Article Abstract:

The New York Stock Exchange has delisted Reliance Group Holdings, parent of Reliance Insurance Co. (Pennsylvania, PA). The insurer defaulted on $400 million in payments to its lenders and investors in November 2000.

Author: DiStefano, Joseph N.
Publisher: Philadelphia Newspapers, Inc.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 2000
Securities issued, listed, Reliance Group Holdings Inc., REL

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Pa. will close, not reorganize, Phila. insurer

Article Abstract:

Reliance Insurance Co. forced into bankruptcy. The author examines the Pennsylvania Insurance Department's efforts to reorganize the company, the financial conditions and the forced closure of the business.

Author: DiStefano, Joseph N.
Publisher: Philadelphia Newspapers, Inc.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 2001
Organizational history, Company Profile

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Banks on an insurer buying binge

Article Abstract:

The article discusses the trend of Pennsylvania and New Jersey banks selling business insurance in order to boost profit margins. First Union Corp., Summit Bancorp., and others are mentioned.

Publisher: Philadelphia Newspapers, Inc.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 2000
Services information, First Union Corp., FTU, Summit Bancorp

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Subjects list: United States, Insurance, Financial holding companies, Reliance Insurance Co., Pennsylvania
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