Banks run for cover from failed bids
Article Abstract:
Corporate insurance specialists TOI have launched an aborted cost insurance (ABC) package to protect banks against losses incurred during mergers and acquisitions activities which fail. The costs of insuring using ABC is expected to be 1% of the total deal value. TOI claim interest in the new product has been high, although it would not identify potential clients. A fee of 6.3 million pounds sterling would have protected the Royal Bank of Scotland from its failed bid to take over the Birmingham Midshires Building Society, which was valued at 630 million pounds sterling.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1998
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Insurance conference
Article Abstract:
Speakers at Acquisition Monthly's recent conference on mergers and acquisitions in the insurance industry agreed that the insurance industry is currently going through a period of rapid change. There are a number of factors which are prompting these changes, including the fact that consumers are now more financially aware and the use of technology to improve service quality. It is relatively easy to make an acquisition in the insurance industry, but integrating an acquired company can prove very difficult.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1997
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UK company brings takeover insurance to eager US market
Article Abstract:
US companies and intermediaries will gain access to insurance policies against hostile takeover bids through a joint venture which is being established by TOI Corporate Services, part of UK insurance broker Swire Fraser, and US insurance concern Aon. Under the policies, companies are insured against the cost of defending against a hostile bid or proxy battle. The policies are underwritten at Lloyd's of London.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1996
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