Larger than life

Article Abstract:

Significant changes have taken place in the insurance industry over recent years. Merger and acquisition deals in the industry reached a value of $8.8 billion in 1998, and many investment banks are now establishing a presence in insurance. A number of genuine pan-European insurance groups have emerged, and greater harmonization is anticipated. Some observers believe that this trend will lead to improved transparency of insurance company accounts, especially as shareholders place insurers under pressure to become more proactive and acquisitive.

Insurance, Insurance Carriers and Related Activities, INSURANCE CARRIERS, Accounting and auditing

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Portal plays open gateway to Europe

Article Abstract:

UK telecommunications concern Cable & Wireless has purchased eight independent internet service providers (ISPs) for $500 million, bringing almost complete pan-European coverage. There are now likely to be many ISP mergers during 2000. Three new internet funds were announced in Jan 2000, with this development being pioneered by bulge bracket banks. There were many deals in the European application service protocol sector, including early stage technology house Kennet Capital's lead of a 3.2 million pounds sterling investment in Aspective.

Telegraph & other communications, High technology industry, Mergers, acquisitions and divestments, Internet service providers

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Mutual admiration society

Article Abstract:

American banking and insurance companies rely heavily on pooling techniques when it comes to closing mergers and acquisition deals, although the US government plans to outlaw the technique by 2000. Up to $33.4 billion worth of insurance deals were closed during 1999, while the banking mergers and acquisition sector achieved $72.7 billion. Other problems facing the insurance industry include heavy losses incurred when insurance claims are made because of bad weather.

United States, Banking industry, Laws, regulations and rules, Financial services industry, Financial services

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