Axa denies talks for Seagram brands

Article Abstract:

AXA-UAP SA has reported that it was not interested in acquiring the Mumm and Perrier-Jouet champagne brands of Seagram Co. of Montreal, Canada. The company reacted to an earlier Seagram's announcement that it was in exclusive talks with the Societe Financiere des Vins de Champagne (SFVC), which is jointly owned by AXA-UAP and Groupe Frey of France, over the possible sale of Seagram's champagne companies. Stephanie Binet, spokeswoman of AXA, said that the company's 49% stake in SFVC is purely a passive investment and that AXA has not intention of shifting from its core business of asset management and insurance.

Comment:

Reports that it is not interested in acquiring the Mumm & Perrier-Jouet champagne brands of Seagram Co of Montreal, Canada

Acquisitions & mergers, Article, AXA-UAP S.A.

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ING Groep says net rose 42% in 9-month span

Article Abstract:

ING Groep N.V., the Dutch banking and insurance giant reports a 42% rise in net profit during the nine months ending September 30, 1998. This was due mainly to the strong growth in its insurance business. The company says that its 1998 full year earnings per share will be 15% higher than last year's 5.25 guilders.

Netherlands, Sales, profits & dividends, Banking Institutions, Depository Credit Intermediation, DEPOSITORY INSTITUTIONS, Financial services industry, Finance, Financial services, Banks (Finance), Abstract, ING Groep N.V.

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Euler will increase premiums in bid to trim its risk

Article Abstract:

Euler S.A. is increasing premiums by as much as 15% in an attempt to reduce the company's risk. The insurance industry is dealing with deteriorating markets and increasing claims.

Consumer prices, Prices and rates, Insurance industry, Euler S.A.

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